Non-filer

[fishonron]

Hello...Well the long story short is that I haven't filed taxes in quite a few years. I've been doing remodeling for the most part being paid in cash in some cases and when paid by check I'll deposit most of it and keep some cash off of the top of that. Not sure if it matters or not but I just went through successful (uninsured) cancer treatments that has left me with mountain of medical bills.

In the very near future I have an inheritance coming. Not enough to clean up my mess but enough to start flipping houses, something that I'm more than qualified to do and I'll be in a great market to do it.

I need to get back on track and make things right with the IRS and State and make sure that my new venture is on the up and up from here on out.

My question is where do I start? Should I first speak to a tax attorney and get advise there on how to move forward or is a CPA or even a local tax preparer good enough. All I really have to work with is bank statements and a few 1099's that are out there (no W2's).

As far as money I owe, I feel confident that I'll be able to keep up with a fairly aggressive payment schedule to get this resolved but moving forward I need to make sure that I'm getting good advise on how to get there without paying for what I don't need.

Thanks

 

[Dandy Don]

Either an accountant or an attorney can help you--try to look for one that specializes in "offer in compromise" or mentions that he/she was formerly an enrolled agent (a former employee of the IRS who is now in private practice, who would be more familiar with the IRS rules and regulations and would have special insight on cases like yours).

 

[FlyingRon]

Either an accountant or an attorney can help you--try to look for one that specializes in "offer in compromise" or mentions that he/she was formerly an enrolled agent (a former employee of the IRS who is now in private practice, who would be more familiar with the IRS rules and regulations and would have special insight on cases like yours).

Eh? An OIC is only going to be on the table if there's unlikely any other way of resolving the problem. And you have no clue what an "enrolled agent" is. An enrolled agent is one CURRENTLY federally licensed to represent people before the IRS. An enrolled agent doesn't have to be and almost never is a former IRS employee.

And many of the attorneys that advertised OIC a lot tend to have been disbarred or otherwise forced out of the tax business.

 

[LdiJ]

Hello...Well the long story short is that I haven't filed taxes in quite a few years. I've been doing remodeling for the most part being paid in cash in some cases and when paid by check I'll deposit most of it and keep some cash off of the top of that. Not sure if it matters or not but I just went through successful (uninsured) cancer treatments that has left me with mountain of medical bills.

In the very near future I have an inheritance coming. Not enough to clean up my mess but enough to start flipping houses, something that I'm more than qualified to do and I'll be in a great market to do it.

I need to get back on track and make things right with the IRS and State and make sure that my new venture is on the up and up from here on out.

My question is where do I start? Should I first speak to a tax attorney and get advise there on how to move forward or is a CPA or even a local tax preparer good enough. All I really have to work with is bank statements and a few 1099's that are out there (no W2's).

As far as money I owe, I feel confident that I'll be able to keep up with a fairly aggressive payment schedule to get this resolved but moving forward I need to make sure that I'm getting good advise on how to get there without paying for what I don't need.

Thanks

The main key going forward to keep yourself in good standing, tax-wise, is excellent record keeping. You need to keep good track of all income coming in and all expenses going out...as well as hard copies of any receipts.

Accounting software is a good way to do it, but a simple ledger book and an accordion file works as well.

As far as past years are concerned, gather together everything that you can and go see a tax professional. You want someone with experience in helping people cleaning up messes with the IRS. Look for an office that is open all year long. They will have people who can help you.