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Video instructions and help with filling out and completing Are Form 843 Individuals

Instructions and Help about Are Form 843 Individuals

Hello everyone today I want to talk to you about a substitute for return sfr now what is an sfr a substitute for return this is a return that the IRS will file for you if you don't file a tax return now usually it takes them a couple of years or so two or three years before they will file an sfr but eventually they will follow one for you and this you don't want and the reason why you don't want this is because if the IRS files an SF are for you the amount owed is going to be greatly exaggerated due to the fact that you don't get personal exemptions and other credits and deductions that you might be entitled to when they file the substitute for return you're basically only getting the standard deduction so it would be in your best interest to file your past view returns otherwise you're it's going to show that you owe thousands of dollars to the IRS that you actually don't oh um what happens before they will file the sfr they'll send you a notice of proposed assessment and what that is is pretty much it's an educated guess as to how much they think you will owe for that particular tax year again it's a notice of proposed assessment it's not edged in stone and you don't owe that amount they're just basing that off of other information that they've received and from prior year prior year's tax return so um again the SF our substitute for return is when the IRS will file it for you and it's again it would not be in your best interest to do that if you ignore the notice of proposed assessment that you receive and they do end up...