For 4 years, I trusted someone with doing my taxes
. At this time I was between the ages of 19-23. I had no idea what they were doing as I was only excited about the huge refund. However, at 25, I was in the process of buying my first home and the broker said that may trigger an issue later down the line with the IRS
. She was writing off major Schedule C
expenses without me knowing, so I stopped and started filing
my following years correctly with a different tax person.
However, yesterday--the IRS sent me a letter to examine my 2010 tax returns
, questioning the Schedule C information. I'm aware that I am fully responsible for this, so I am prepared to do whatever it takes to pay back whatever I owe the IRS. I consulted with a Tax Adviser who is going to personally see how much I will owe for all the years she's done incorrectly.
My only concern is, if I make the IRS aware of my mistake for 2010 and years beyond, and have my Adviser negotiate some form
of payment plan, will it show up on my credit
? Also, will a lien
be placed on my home? I just purchased my home not even a year ago.
I know I made one of the biggest and dumbest decisions of my life. Which is why I prefer for them to audit
me for all of the years and not just the year they're examining me for. So please respond politely, but informatively.