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I'm a bit behind on my taxes I own a small landscape

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Hello I'm a bit behind...
Hello I'm a bit behind on my taxes I own a small landscape contracting business which I took over from my father when he passed in 2008 and he ran it cash business. In the start of 2009 I made the business fully legit and was up to date on my taxes in 09'. From 2010 till now I have not filed any taxes or anything. I know I messed up but I want to make things right. I'm still young and learning the ways of business as I go along which seems to be a bumpy road. As I said I'm looking to make things right the business has been failing due to the weight on my shoulders with this. I don't really have anyone to turn to for advice and I'm not sure what steps I should be taking to clear this up.
Submitted: 2 years ago.Category: Tax
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9/2/2015
Tax Professional: Tax.appeal.168, Tax Accountant replied 2 years ago
Tax.appeal.168
Tax.appeal.168, Tax Accountant
Category: Tax
Satisfied Customers: 3,867
Experience: 3+ decades of varied tax industry exp. Tax Biz owner
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There are many others in similar situations. Not being current on your tax filings is not the end of the world. The good thing is that your situation is fixable. To start, you will need to request your wage and income transcripts from the IRS. These transcripts will show income and other information reported to the IRS relating to you. After the transcripts are received, simply file the past due tax returns. There will likely be penalties such as failure to file and failure to pay penalties if you owe tax. Note that if you were due a refund from any year prior to 3 years ago, you have forfeited that refund.

I work with clients in your situation regularly. I will send you an additional services request to discuss this matter more in detail with you.

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Tax.appeal.168
Tax.appeal.168, Tax Accountant
Category: Tax
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