New Site For Filing Old Tax Returns

He's Back. Uncle Sam Wants You!!!!

He’s Back. Uncle Sam Wants You!!!!

Sometimes things happen.  Life get’s in the way.  Your health takes an unexpected turn for the worse.  You have the best intentions of getting out of the financial hole you are in, but the hole just seems to keep getting deeper.  No matter what the reason is, sometimes the tax returns just don’t get filed on time.  And sometimes they don’t get filed for a few years.  But don’t worry, now you have an option to get back on track.  Introducing! is our recently developed sister site to helps those who specifically have unfiled tax returns from previous years.  Why create a separate website; especially if the services are provided the same fine professionals who run Wilson Rogers & Company?  Keep reading.

Software availability.  If you have old tax returns to be filed and are the DIY type, you’ll quickly stumble onto something.  Software providers typically STOP offering tax software for a particular year once the IRS has shut down the e-file platform.  Thus, if you want to prepare your return electronically, there are a limited number of online sites you can use or you have to manually fill out the forms once you download them from the IRS website.  But what if you don’t want to prepare the return?

Real people available year round.  It’s no secret that most retail tax offices close up shop once the tax season is over.  If you have a deadline to provide a tax return to someone (e.g. loan officer for that new home you’re trying to purchase), you might find it hard to locate anyone who can prepare it for you, when YOU need it.  Thus, was created as a option so that taxpayers could get these old returns prepared all year round.  Depending on the situation, you may be able to get them done in as little as 24 hours!

Real people available year round!

Real people available year round!

Repository of tax law.  Tax laws are constantly changing.  Even if you don’t want to have someone prepare your return for you, what laws and tax rates were in effect back when your tax return was due?  Not to worry, has a tax help blog that has all of the historical information that you would need to ensure that your return was done right.  While only containing historical tax rate tables at the moment, it will soon be expanded to include tax law summaries for each year as well as specific information on various credits, deductions and other items.

Help with IRS debt.  It’s not uncommon for those who have unfiled returns to also have amounts owed to the IRS.  Sure, you’ve seen all those companies with the late night infomercials telling you how you can settle your debt for pennies on the dollar if you owe more than $10,000 to the IRS.  But can you trust them?  How do you know if they are reputable?  Well, has a dedicated Got IRS Debt page that will not only inform you of your options when it comes to settling your tax debt, but inform you of your rights!

So there you have it.  If you have (or know someone who has) unfiled tax returns, why not pay a visit to the site?  If you need to speak to someone, you can call the site’s dedicated support number at 844-TAXES88 or 844-829-3788.  Plus, when you visit the site, you can sign up and save 30% off current year tax preparation rates.

Until next time…


By |2014-11-30T08:44:22-06:00November 30, 2014|Categories: Tax Talk|Tags: , , , , , , , , , |Comments Off on New Site For Filing Old Tax Returns

Understanding IRS Debt and Allowable Expenses

When an individual is facing IRS debt and is working to get it resolved, they’re often required to fill out a Collection Information Statement.   The Revenue Officer assigned to the case is allowed to (and often does) question any expenses that look fishy.   However, what expenses are considered allowable can sometimes perplex a taxpayer.

For example, the IRS sets very specific limits on what a household can claim as an expense.  These are often referred to as the National Standards.   However, IRS simultaneously explicitly prohibits the claiming of certain expenses for collection purposes, including expenses that are deductible or create tax credits on a tax return.  Many taxpayers are confused by this fact, and it’s just one of the numerous inconsistencies across the tax code.

When it comes to the dollar amounts which are considered allowable per the National Standards, many people are shocked at how low some of the numbers are.  Conversely, there are other people that are shocked at how large some of the numbers are.  Keep in mind that the IRS National Standards reflect the government’s calculation regarding a precisely middle class existence.  For example, the allowable housing expense will vary geographically, because housing is cheaper in some parts of the United States, and much, much more expensive in other parts.  However, the allowable expense for any area represents the median housing cost for that geographical area.

The National Standards for other expenses, such as public transportation and out of pocket health care costs, are the same for everybody nationwide, and are updated every couple years.  For food, clothing, and other miscellaneous expenses, the IRS allows a set amount based on the number of family members in the household.

Historically, the IRS has not allowed expenses for unsecured obligations, such as your minimum monthly credit card bills and student loan payments.  However, as part of the 2012 “Fresh Start” program, the IRS now gives collections personnel discretion on these items.  Your Revenue Officer may permit you to claim these items, and it is therefore better if you do so up front, and let them tell you later that you can’t.

Hopefully this gives you a little more insight into why some expenses are allowed and how they are calculated.  In the end, the most important fact is to ensure that  that you claim every allowable expense on your Form 433.  Doing so will ultimately minimize the amount you end up paying the IRS on your back tax liabilities.

By |2013-10-05T18:44:00-06:00October 5, 2013|Categories: IRS Talk|Tags: , , , , , |Comments Off on Understanding IRS Debt and Allowable Expenses

The Truth About Settling Taxes for “Pennies On The Dollar”

Every year we here from taxpayers who have IRS debt and are looking for a solution.  Inevitably, they will also make a reference to the possibility of settling their debt for less than what they owe.  What usually follows is a conversation about what this actually means and how most people DON’T qualify for it.  Let us elaborate.

In advertising, you’ll hear companies talk about settling back taxes for 20%, 10%, or even less than the original balance.  What these ads, and the sales people whom you talk to on the phone, are trying to sell you is an Offer in Compromise service package.  This package is a reference to the IRS Offer in Compromise (OIC) program, which allows eligible tax debtors to pay the IRS an amount of money that is less than what they owe in order to wipe out their entire tax liability.

The phrase “pennies on the dollar” was actually determined several years ago by the IRS to be a form of deceptive advertising.  As a result, they explicitly instruct licensed practitioners that using this phrase is a violation of Circular 230, which is the handbook us practitioners must follow when working with the IRS.  However, since the IRS doesn’t always have jurisdiction over firms that just market these services, it comes into the FTC’s purview to look out for these deceptive marketing practices.

Some ads, web sites, and salesmen are out there trying to convince taxpayers that what you settle for is some fixed percentage of your tax debt.  However, this is blatantly incorrect. There is absolutely no provision in the tax code for allowing a taxpayer to pay a set percentage of their tax liability and just calling it good.  This has never existed, and most likely never will.

Instead, the amount of your OIC settlement is calculated using a very, very strict formula.  What’s even better is that this formula is NOT secret — it’s available on a worksheet in IRS publication 656B.

Based on this formula, if you have equity in assets that exceed your tax debt, you simply don’t qualify.  Period.  End of story.  For most individuals, the common thing is going to be equity in your house or rental properties, or perhaps equity in a collection of classic cars, stamps, coins, guns, art, etc.  If the value of ANY of that stuff is greater than your tax debt, you do not qualify for the OIC and cannot settle for “pennies on the dollar” – there is no way around this.

In the same vein, if you are a high income earner, it’s also highly unlikely you will qualify for the OIC.  The reason for this is that the IRS only allows certain amounts of money every month as “eligible expenses” for housing, cars, food, etc.  If your lifestyle exceeds these amounts, the IRS doesn’t care — they will only allow you to claim the National Standard expenses. Any monthly income over those amounts gets multiplied by either 48 or 60, and THAT number goes into your offer amount.

In these circumstances, you may qualify for a period of up to 12 months to make a “lifestyle adjustment” and reduce your living expenses to come into line with IRS standards. This will often involve selling luxury homes and getting rid of toys such as cars and boats.  Keep in mind that these items are all covered by your tax lien, so any proceeds from the sale of these items technically is owned by the IRS, and should be paid over to them. A good tax representative can assist you with structuring these sales so that both you and the IRS get something out of it.

In closing, beware of anybody promising that your tax debt can be settled for some fixed percentage.  That’s not the way it works and a skilled professional can show you if you stand a chance at qualifying for the OIC.  Anybody trying to sell you on the percentage idea might as well be selling you swampland in Florida, and you’ll be best served to seek assistance elsewhere.

By |2013-06-05T12:34:33-06:00June 5, 2013|Categories: IRS Talk|Tags: , , , , , , , , , , |Comments Off on The Truth About Settling Taxes for “Pennies On The Dollar”
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