Index - https://steemit.com/tax/@alhofmeister/rqgmk-tax-blog-index
Introduction
After concluding my last series on back taxes, I felt unsatisfied with the projected tax savings. As a result, I've decided to do a second series on back taxes with a more extreme example. This article will cover the penalties & interest that the IRS would assess (maybe not penalties depending on the facts and circumstances of the case).
Problem
Taxpayer A did not file their tax returns for 2009, 2010, 2011, 2012, 2013, 2014, 2015, or 2016. In 2018, Taxpayer A decided to settle with the IRS before they received a notice. Note that these calculations assume that the taxpayer files on February 28, 2018.
References
https://steemit.com/tax/@alhofmeister/case-study-36-failure-to-file-2009
https://steemit.com/tax/@alhofmeister/case-study-37-failure-to-file-2010
https://steemit.com/tax/@alhofmeister/case-study-38-failure-to-file-2011
https://steemit.com/tax/@alhofmeister/case-study-39-failure-to-file-2012
https://steemit.com/tax/@alhofmeister/case-study-40-failure-to-file-2013
https://steemit.com/tax/@alhofmeister/case-study-41-failure-to-file-2014
https://steemit.com/tax/@alhofmeister/case-study-42-failure-to-file-2015
https://steemit.com/tax/@alhofmeister/case-study-43-failure-to-file-2016
Disclaimer
Any accounting, business or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties.