Haven’t Filed in a While? No Problem!

Your Checklist to Resolution

1. Gather the Documents

• Bank Records
• Auto Log
• Income statements
• Cash receipts

2. IRS Wage & Earning Reports

• Confirm what the IRS has and does not have

3. Reconstruct What is Missing

• Obtain from vendors
• Reconstruct expenses based upon work done
• Industry standards

4. Prepare missing returns (limited to last 6 years)

• Prepare both MFJ and MFS
• Pull IRS transcripts to confirm what is missing or SFRs

5. Review state voluntary disclosure rules

• Limited lookback?
• Penalty waivers?
• Interest reduction?
• Payment options?

6. Compare MFS to MFJ

• Community Property State vs Separate Property State
• Impact on Collection?

7. Calculate RCP

• Net equity in assets
• Future income calculation

8. Determine Collection Alternative that Works Best

• Installment Agreement
• Uncollectible Status
• Offer-in-Compromise

9. File Returns Based Upon the Strategy for Resolution!

Want Help? Need to Resolve the Tax Nightmare?

Contact us today!

Tammy Korenek, Enrolled Agent
Executive Tax
Phone: 830.456.6566
EMail: