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Tax.appeal.168, Tax Accountant
Category: Tax
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Experience:  3+ decades of varied tax industry exp. Tax Biz owner
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I recieved a letter about an audit for 08, 09, 10. I reported

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I recieved a letter about an audit for 08, 09, 10. I reported my self employment on a sch c. I cannot locate all of my documents. So I recieved another letter stating that I have to pay back a lot of money. The agent calculated evrything including the money I reported making that I can't prove either. Can I just amend these years and make arrangements to pay back that amount ?
Submitted: 5 years ago.
Category: Tax
Expert:  Tax.appeal.168 replied 5 years ago.

Welcome to Just Answer!!

Here's what you want to do first; request your income and wage transcripts from the IRS for he years in question. These transcripts will show all your income earned, and any federal taxes paid for these years. There are 3 ways that you request the transcripts, either via mail, over the telephone, or online.

Once you have the transcripts, compare them to the documentation that you rec'd from the IRS to make sure that the information is correct. If the information is correct, you can then amend the returns, whatever amount that is showing due, if you do not have the money to pay all at once, you can request an installment agreement. If it is a large amount that you owe and you are disputing the amount, you can request an OIC (Offer In Compromise). Let me know if I have answered your question. Thank you.
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