File IRS Tax Returns from irstaxuniversity.com

The IRS can file a return for you on an IRS unfiled tax return called an "SFR" (Substitute for Return). Of course, if the government is filing your return, you can bet they don't have your best interests in mind. The SFR only allows standard deductions and one personal exemption. You lose credit for spouses, children, business expenses, mortgage interest, etc. -- all those deductions which help to lower your tax base.
If your client is in business but doesn't have financial statements prepared for any given year, consider engaging your client to prepare the financial statements in order for you to prepare an adequate tax return.

It is that simple. In my own experience, my business has literally prepared thousands of unfiled returns in the past fourteen years. It is a good source of income.

Category:

Education

Tags:

• irs file tax returns
• substitute for return
• irs