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How to Neutralize the IRS's Substitute Return A substitute return is when the IRS files a return for you because, you forgot to file. Once the IRS files a "substitute return" it becomes a legal document and a taxpayer is held liable and accountable for the tax liability, derived from the "substitute return" That wouldn't be so bad, however, the IRS does NOT include tax deductions which the taxpayer may be entitled to. The reason being, they may not be aware of your dependants or personal deductions, which can make a huge difference in the tax liability. Because the "substitute return" is a legal document, it can be used to garnish your wages and or to levy your bank account. The only way a taxpayer can get the tax liability changed on a substitute return, is to file his/her 'own' tax return. In most cases the tax liability is lowered substantially, once the taxpayer files his own return. Neutralizing an IRS Substitute Tax Return is what we do. We contact the IRS on your behalf and obtain all information necessary to file a return. If a taxpayer has lost his/her W2 or 1099s, we can obtain the information from the IRS. All that is required is for the taxpayer to complete a Form 8821. This is NOT a Power of Attorney form, but an agreement to allow us to obtain information from the IRS. What To Do When The IRS Sends Your Registered Mail, Due to Unfiled Taxes You run to your nearest tax professional who has experience in this area. No, there is no need to contact an expensive attorney or service which promises pennies on the dollar tax settlements! Usually the certified mail is to get your attention, and to let you know that certain actions will be taken within a set amount of time (usually 30 days) It also means that if the IRS has filed a "Substitute Return" for you, and have decided that you owe the IRS, than, they may be gearing up to levy your bank accounts or garnish your wages. The best course of action is to contact a professional who can contact the IRS on your behalf and delay the process, until you can provide the IRS with a positive response. If you owe the IRS and want to ask for a payment plan, you will need to file your "OWN" tax returns and then ask for an Installment Agreement. If you can't afford even an Installment Agreement, you still must find the ways and means to get ALL of the past due tax returns completed, in order to qualify for "hardship status." That's when the IRS stops the collection process because, you don't have the money to pay. (Interest and penalties continue to occur) It is during this time that you can run to an Enrolled Agent, and ask if you might qualify for the Offer in Compromise program (pennies on the dollar) or you can contact a Bankruptcy Attorney and research the BK options. Regardless of which path you take, you MUST file ALL of your past due returns before the IRS will consider your case. Each case is decided independently. Tax professionals, know the ends and outs of how to get the IRS's foot out of your bottom. Because, once there, they actually reach down and take money out of your bank account, savings account and than tell your employer to send a great deal of your wages, or, suffer the consequences! The IRS does not go away. The good news is, the IRS responds kindly, when responded to. When you call them, and tell the truth about what is happening in your life, they will either put you in jail or help you make arrangements to pay your taxes. (comedy) On a more serious note, it is against the law to lie to a Federal Agent. If you aren't sure if the truth will set you free, with the IRS, it is best to hire someone to 1) talk to and complete your past due returns, and 2) point you in the right direction (BK or OIC or Hardship Status or Payment Plan)
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