January 13, 2015 in Taxes

Filing taxes late? Here’s how to get started

Dear Tax Talk,

I’m really worried and don’t know what to do. I haven’t paid taxes in about four years. I went exempt to keep my head above water. I know it is so dumb, but now I’m at the point of not knowing what to do. I need to get back on track, but don’t know where to start or how to go about it. I understand I will need to pay my dues for filing taxes late. I just need help.

— William

Dear William,

The first thing you need to do is determine when you last filed a tax return. Start from there and organize whatever tax information you have year by year so you can get those returns filed with the IRS.

You have several options once you have your information organized. You can:

Once you have the returns filed, the IRS will work with you to set up a payment plan if you are unable to pay what you owe. The sooner you tackle this project, the better you will feel.

Thanks for the great question and all the best to you .

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