How to file back tax returns with the IRS?
If you have not filed tax for many years or even haven’t filed any single return till date, you can still file your back tax returns. However, you may not be able to claim refunds but still, it’s better to file as soon as possible so as to protect tax issues and keep safe your future refunds.
It is better to stay in good books of the IRS as far as tax is concerned.
Let’s get started with these steps to file back your tax returns.
1. Get ready tax documents:
You will require Form W-2 and Form 1099 for years in which you didn’t file a return to file back tax returns. These forms are used to report your income. You can claim for tax deductions and tax credits if you can prove eligibility with the help of supporting documents.
2. Request for missing documents:
In case you don’t have tax documents for the past 10 years, you can request for a copy from IRS via Form 4506-T -Request for Transcript of a Tax return.
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- You can only request for form W-2, 1099 and even 1098s that provide support for claiming some deductions.
- It may take 45 days to process the request. You can use the IRS transcript for all the relevant information that is sufficient for filing back tax returns.
3. Download the previous tax forms:
You must file back tax returns on the original form for each tax year. You can search the official website of the IRS for the forms. However, it is always looking for professional tax service who can walk through the entire process.
Meru Accounting has a professional tax team consisting of CPAs, CA and accountants who are working for years to help our clients to get through their tax returns. Feel stress-free with our expert tax service.
4. Prepare past tax returns from prior years:
Tax laws are subjected to changes each year. So, don’t file your past tax returns using current-year tax information. You end up filing a tax return using improper returns and have to prepare it again.
So, always double-check that the instruction you are using for filing the past return is relevant for those prior years.
5. Submit your tax forms:
Submit your tax forms to the IRS address list in the instruction of Form 1040. In case you owe additional tax for the past years to the IRS, it is better to pay more to reduce your interest charges.
The monthly interest will continue to acquire till tax is paid. However, you can still relax penalty charges as it has a maximum limit.
When the IRS receives tax returns, you can expectt the notice regarding the applicable interest and charge and penalty you owe to the IRS for non-filing of taxes.
