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Prior Year Tax Preparation

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Prior Years Tax Prep

Non-filers, late filers and delinquent filers are welcome at Consulting Services Tax and Accounting

There are many different reasons people don’t file tax returns – loss of records, health, fear of owing money, divorce, moving, etc. Whatever the reason, we work with you to reconstruct the information to complete the tax returns.

What documentation should I have to file prior tax returns?

In most cases people do not have all their records, but it is helpful if you gather as much information as possible along with copies of the last two years of taxes filed.

How do we obtain additional information?

We will complete a form 8821 for the tax years in question and have you sign it. We can then call the IRS and request income transcripts, which they can usually fax within 48 hours. The transcripts contain wage and income records that are required to be reported to the IRS by employers, banks, financial institutions, brokers, pension funds, etc. This information will show any federal taxes withheld, social security and medicare. This will give us most of the information we need to prepare the federal return. If you are self-employed and are lacking records, the IRS allows you reconstruct mileage records, use per diems for travel expenses, etc.

What are my filing requirements?

When we call the IRS, we will ask questions about each year listed on the 8821 form. They may not require every year to be filed. The IRS will file a return for you and if no balance is due based on the transcripts, they may close the year and not require a tax return. If a balance is due according to the transcripts, they may send a letter showing the worst case scenario for your situation, which may prompt you to file. They often set a deadline to have all delinquent returns filed in 60 days. If you are currently being garnished or levied we can assist you with the required returns done in a timely manner, to facilitate the levies being lifted.

How far back can I get a refund?

The Federal Statute of Limitations allows refunds up to 3 years from the date the tax return was due. Wisconsin allows refunds up to 4 years from the date the return was due.

Call us today at 608-233-9769 for the friendly and accurate tax prepartion help you deserve.