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Megan C
Megan C, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 15587
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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I am ashamed to admit that I have not filed taxes in many years.

Resolved Question:

I am ashamed to admit that I have not filed taxes in many years. Probably only about 2 of them would I have owed money but at this point I don't know. I will for sure this year.

What is my best course of action.
Submitted: 1 year ago.
Category: Tax
Expert:  Megan C replied 1 year ago.
Hello! I am a CPA here to assist you with your tax questions. My goal is to provide you with excellent service today.

How are you today? First off, try not to be stressed. You will be able to file these taxes. First thing to do is file form 4506-t and select box 8. This will get you your wage and income transcript. You can use this to help you file your taxes.

Then, review your bank statements for deductions. If you do not have a business deductions would be like your medical expenses etc.

Once you have all your information you can file your taxes. You can have a professional do this for you if you are concerned. But, there's nothing to worry about. The key is that you are getting the returns filed.

Do you have any further questions? Any questions about specifics? Please reply below. Otherwise please rate as excellent so that I may receive credit for assisting you today.
Customer: replied 1 year ago.

This 4506-t? I do not have all of my w'2"s. Will this eliminate this problem.


Also, I do not have any cash, I am 72 years old on SSI. the only thing I have of worth is my home which is free and clear. Probably about $80000. I could get a reverse mortgage which I could do to pay my taxes but I can't file for one in the situation I am in. Because they ask for tax returns.


 


I am still working as a Realtor but not making much money these days so it is hard to save any money to pay anything back.


 


Help and thank you. XXXXX am stressed to the max--thinking of jumping off a bridge--won't tho. My husband has passed away so it's just me.


 

Expert:  Megan C replied 1 year ago.
Hello ma'am. Don't be stressed! This happens all the time. You probably need an EA or CPA to help you. Form 4506-T will eliminate the problem of lost w-2 forms.

With the tax due you can work out a payment plan. At this time I would wait and see how the returns come out before getting a reverse mortgage.

Try not to stress. I promise this isn't as bad as you feel.

Please let me know if you need anything additional. If not please rate as excellent so that I may receive credit for assisting you today.
Megan C, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 15587
Experience: Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
Megan C and 2 other Tax Specialists are ready to help you

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Megan C
Megan C
Tax Professional
15587 Satisfied Customers
Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level