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I have several years of unfiled taxes and need some advise

and direction to minimize the...
I have several years of unfiled taxes and need some advise and direction to minimize the damage. I have adult ADD and this has been a constant issue between me and my spouce that has blown up. Looking for someone that can help me navigate this problem. The US tax and HR Block people are charging $300 a return and I am not comfortable that I can get any assistance from them beyond what I can get if I just buy multiple years of Turbo Tax.
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Answered in 4 minutes by:
9/16/2013
Megan C
Megan C, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 16,581
Experience: Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
Verified

Megan C :

Hello! I am a CPA here to assist you with your tax questions. My goal is to provide you with excellent service today.

Megan C :

How are you today?

Megan C :

The first thing you need to do is order your wage and income transcript from the IRS - you can do this by filing form 4506-T and selecting box 8

Megan C :

This will tell you what income has been reported for you to the IRS.

Customer:

I called the IRS friday and they said they would send me that information

Megan C :

Okay great. That's your first step.

Customer:

I am fine ...thanks, XXXXX XXXXX?

Megan C :

Then, gather your bank statements and see if you can find any deductions that you may be entitled to. Medical expenses, things like that. IF you own your own business, your business expenses

Customer:

I think my wife has gathered all of that. Our tax situation is fairly simple. No businesses, pretty much mortgage property tax info, 2 children

Megan C :

Okay then you are in good shape.

Megan C :

All you can do is get the income information, your deduction information, and then fill in your returns.

Megan C :

I would check with a local CPA because I don't think they would charge you $300 per return

Megan C :

Typically they charge by the hour and if your records are in good shape it shouldn't take more than 4-5 hours if you have 6 years of unfiled returns

Customer:

The issue we have is me... As I mentioned, I have always had a hard time filiing taxes, vehicle registration etc...hard to explain and embarrasing but it is what it is. We are now at a opoint where my procrastination has created significant financial issues and the state of Georgia is all over my wife for unpaid taxes.

Megan C :

Well, all you need to do is gather the information and file your returns. There's not much more that can be done to minimize damage

Customer:

So you are saying a CPA is my best bet vs any self preparation or an HR Block?. Any advise on finding a CPA? Or is this a whites pages look em up

Megan C :

Yes, a CPA would be your best bet - or EA (enrolled agent). You can find them by going to your state board of accountancy website or the yellow pages and find one

Megan C :

It will be far cheaper than $300 per return.

Customer:

Any thoughts on how to handle the issue with the IRS? I see so many ads for "dont take on the IRS yourself" etc.

Customer:

Ok, I will see what I can find

Megan C :

I wouldn't worry too much - your situation is straight forward. You would be more under scrutiny if you had a business, but all your info has been reported to the IRS (income, mortgage interest, etc) so there's not much interpretation on your return.

Megan C :

They aren't going to do anything to you - just charge you interest and penalties. That's it.

Megan C :

With your type of return I would doubt any further correspondence from the IRS beyond a bill for tax, penalties, and interest.

Customer:

Ok. Hopefully the years that I can still get a refund will have one and help offset anything that I owe.

Megan C :

Yes, I think you're in good shape. Try not to worry too much.

Megan C :

I know it's stressful but it could be a lot worse.

Customer:

Thanks for the help...I just hate fishing in the dark for help...not in your case but when it comes to attempting to get tax help etc.

Megan C :

yes, I know.

Megan C :

Is there anything else I can do for you today?

Customer:

no, and thank you

Megan C :

If not, please rate my response as "excellent' so that I may receive credit for assisting you today

Customer:

yes I will, thanks

Megan C :

Thank you so much!

Megan C :

The rating feature is located along the bottom of your screen. 5 stars/smileys gives me full credit.

Customer:

Done..thanks!!

Customer:

You feel like doing some taxes?...kidding

Megan C :

I don't see the rating as applied...did you click on the ratings?

Megan C
Megan C, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 16,581
Experience: Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
Verified
Megan C and 87 other Tax Specialists are ready to help you
Ask your own question now
Thanks, Shawn for your positive rating. Please come back and visit MyVirtualCPA for any of your tax, finance, or social security needs. It was a pleasure working with you today.
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Customer reply replied 4 years ago

Thanks Megan

Ask Megan C Your Own Question
Megan C
Megan C
Megan C, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 16,581
16,581 Satisfied Customers
Experience: Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

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