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It occurs frequently that taxpayers do not file tax returns for one or more years because they are missing all or a portion of their records. There are ways to approach the problem of missing records.
The I.R.S. maintains a file going back 6 years of all W2's, 1099's and 1098's (mortgage interest paid) filed in the name of individual taxpayers. Associated Tax Relief can determine certain facts from Master File Transcripts, available for the asking for those years where the IRS has prepared a Substitute Return. These 'records of account' provide Adjusted Gross Income, Taxable Income, Tax, Number of Exemptions, Filing Status and Self Employment Tax. Missing business records can be determined in many cases by obtaining copies of bank statements for years past, as well as credit card statements. From that, it is possible to prepare a proper tax return.
Associated Tax Relief can prepare old returns using various substitute sources when there are missing records. Those returns should be filed as soon as possible in order to avoid accumulated compounding of interest.
Also, it should be noted that if returns have not been filed in the most recent three tax years, those returns should be prepared immediately in order to claim any refunds that may be due.
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