Hi, this is IRS tax relief attorney Anthony Parent of Parent & Parent LLP. In this video, I'll be talking about the four things you need to know about filing back taxes with the IRS. The first thing is that if you don't file your taxes, the IRS will do something called a substitute for return (SFR). With an SFR, the IRS tries to assume the worst tax bill you can imagine. They send you notices to say, "Hey, file your taxes before we do it for you. You're not going to like what we charge you." Of course, if you ignored these notices about your unfiled tax returns, we totally understand. These IRS notices are hard to understand and can get really scary, unless you deal with them every day like we do. But an important thing to understand is that when you file a correct return to lower your SFR assessment, what that technically is, is something called an audit reconsideration. I'm not trying to scare you. No, it's not like an IRS field audit with someone all in your business. The reason I mention it is that the IRS does give a bit of extra scrutiny to the return processing. So, it is important that the returns are done very carefully. When you file past due tax returns, your return processing needs supervision, either by you if you're up for it, or a tax resolution professional. The second thing is time. Did you know that if you don't file your taxes, the IRS has forever to assess tax against you? For example, if you don't file taxes in 1988, the IRS could file your taxes within SFR right now. Now, if you do file your taxes, the IRS effectively only has six years since your filing date to assess...
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Video instructions and help with filling out and completing Fill Form 843 Overpayment
