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Lev, Tax Preparer
Category: Finance
Satisfied Customers: 29577
Experience:  Personal Investment, Tax Preparation
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I have not filed my business nor personal taxes past

Customer Question

I have not filed my business nor personal taxes for the past 5 years. There really is no other excuse other than I was busy with work and they just kept getting pushed back. Poor excuse I know, but it is what it is. I am trying to get caught up, right now, but I am trying to figure out my first step. Should I go back to my accountant and have him prepare and file my taxes for each of the past 5 years, should I see a tax attorney, should I see a tax resolution specialist? Is there a certain order you would recommend I do first?
Submitted: 1 year ago.
Category: Finance
Expert:  Lev replied 1 year ago.
Sorry for your situation...The first step I suggest to have your 2015 tax return prepared and files before Apr 18 - that will be on Monday.If you feel that is not doable - file an extension as soon as possible.Most important would be to estimate if you owe any taxes - and if yes - I suggest to pay as much as you could afford before Monday.If you file an extension request - you will have additional 6 months to collect all documents and prepare your tax return.If you are overloaded with other tasks - it might be better to have someone helping you with tax preparation.You do not need a tax attorney as long as there is no litigation - but a good tax preparer might be a great help.
Expert:  Lev replied 1 year ago.
The next step would be to collect documents for prior years - and prepare these tax returns.Be aware that if you have additional tax due for these years - there will be penalties and interest charges.So be sure to have all your supporting documents regarding qualified business deductions.That might be time consuming to collect all these documents for five years - but you really do not have any choice.Let me know if you need any specific details..I appreciate if you take a moment to rate the answer.Experts are ONLY credited when answers are rated positively.If you still have any doubts, need clarification - please be sure to ask.I am here to help you with all tax related issues.

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