Filing Back Tax Returns Without Records * Former IRS Explains

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If you need experienced and affordable tax help to file your back tax returns without records call us today for a free initial tax consultation.

We can file your back tax returns and settle your case all at the same time. We can assure you will pay the lowest amount of tax possible.

We have over 65 years of direct work experience in the local, district, and regional tax offices of the IRS.

 

Being a former IRS agent I cannot tell you how many times I’ve been approached by taxpayers with lost records and have not been able to file back tax returns.

There is an easy and simple fix.

 

The first place to start is with Internal Revenue Service.Yes, the IRS.Dont worry, its ok.

Internal Revenue Service keeps an income record of all your W-2s and 1099s on records for the past six years.

You can write or order on-line the Internal Revenue Service and ask them for an income tax transcript. 

They will provide for you a list of all income, 1099s, mortgage interest, stock and dividend interest and a whole variety of information you may not know that IRS keeps.

You should know that third parties to report to Internal Revenue Service so IRS has in-depth information from third parties on your prior income.

The next place to look is to bank statements.

As a former IRS agent and  teaching instructor it is easy to find out how much a taxpayer has made by adding up their bank statements for each and every year.That is one of the tools.

IRS will come up with the sum total of your deposits and classify that as income unless you can show the money deposited came from other sources. Many times they do, sometimes they come from loans, or monies from other persons.  If you are ever audited by the IRS the bank statements are one of the first things IRS will ask for.

An IRS agent can summons those or subpoena those to get an idea of how much income you  had available.

Some people may think while I have dealt in cash.

IRS is a simple solution.  The Internal Revenue Service  does a cost-of-living analysis. IRS has n chart that they use. It lists all common monthly expenses used by most taxpayers.

As a general rule , if you know someone’s rent you can pretty much back into their income.

As a general rule, taxpayers spend between 28 to 35% of their available income or funds on rent or mortgage. Using that factor you can generally back into  income. Once you come up with an average month of income and expenses you simply multiplied by 12.

As a general rule and IRS agent will explore three avenues to make sure everything adds up. IRS will ask for bank statements, cost-of-living analysis, tax returns, and a financial statement. All four of those have to have a common thread of income to those.

You should also be aware that IRS uses the department of labor stats to find out how much it cost to live in a particular area they are also available on our website under IRS standards.

These standards are national, regional and local  for every county, city or borough in the United States.

You must also be aware that IRS uses what is called an Accuriant search engine that has information on you going back for 20 years. That information has a plethora of information about all your financial activity more so than the average person realizes.

Also IRS can pull up your credit report. your credit report obviously contains all your charges and IRS has the ability to pull up financial statements that you given the third parties to apply for credit.

The bottom line here,  IRS has a lot of cross-reference material to find out what your income is.

Remember IRS is trained to go ahead and determine what your income is so it is to your best advantage to go ahead and file correct and accurate return.

 

Filing Back Tax Returns Without Records * Former IRS Agent Explains