Owing current and back taxesI owe back taxes and not sure how to handle money that I am due to receive from a lawsuit. To figure all this o...

Question

Owing current and back taxes

I owe back taxes and not sure how to handle money that I am due to receive from a lawsuit. To figure all this out do I need a ''tax attorney'' or just a ''tax professional?'' I won't be able to finish my taxes by tonight...what should I do from here to get them done?

Answer

Re: Owing current and back taxes

I help my clients who have not filed for years. If you deposit the settlement in your bank account you may find the funds seized by the IRS. Contact me directly.

Answer

Re: Owing current and back taxes

Above all lse you need to file. If you can figure out how much you for 2006 taxes, you can file for an extension using IRS Form 4868.

Second, if you hire help and approach the IRS before they find you in connection with any late returns or late payments it is easier to resolve.

Third, in connection with the lawsuit, you might be surprised to find out that many lawsuit recoveries are not taxed. But you need real help.