Have Tax Questions? Ask a Tax Expert for Answers ASAP
I have not filed taxes since 1999. I have little or no records. How can I clear this up?
Thank you for your excellent advice. I would like to bend your ear a little more.
I will reach out to an expert. It is my understanding that they have records of case law that can assist me.
First of all, I made a few hundred thousand for a few years in a business. But I also invested $600,000 in that business and always took a position that investing in businesses was my business so I could take ordinary losses for losses. I got the investment money from inheritance and loans and stock market gains but I don't have good records. After this I became very sick (or perhaps during) with bipolar disease and recently severe diabetic condition. I also had to pay my ex-wife all my money because my support was set at conditions when I was making a lot of money ($6K a month and then raised to $10k a month), I could not get it reduced because there was at that time no diagnosis of bipolar condition.
I only received that diagnosis in jail by a board certified psychiatrist when I was there for 6 months for failing to pay child support, and then got on the right medicine. The Judge's doctors completely missed the problem.
Since then I have made a small living teaching - sometimes 20k to $30k,. Living with friends. Occasionally being homeless. I did have one year of a good job but that company (an Internet company) closed.
This year better maybe $80k as I have drawn a better following and my medication is working better so I can work more. At this point, assuming my health continues to get better.
I want to clear this and be able to say I have filed returns. Will this accomplish so I can say I have filed returns when asked by regulators or the government so I can get back into finance or allow me to marry a wife not from the U.S.?
I want to know if it is likely I will go to jail (again).
Whatever number they come up, I won't be able to pay it at once as I have only $10k in savings and I need that money for my business and daily expenses. So how they do a payment plan.
Thank you for your attention.