Can’t Afford to Pay Your Taxes? Need Help Claiming the Tax Refunds You’re Entitled to?
In the current economy, tax problems can confound anyone–especially if your spouse suddenly lost his/her job or if you default on a loan. I recently had the pleasure of sitting down with Drew on the Money, Riches, and Wealth Radio Show to answer tax problem questions from regular taxpayers who may not be able to afford tax lawyers. Read on for information regarding paying the government taxes you owe and also getting back the refunds that are entitled to you:
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Paying Quarterly Taxes As an Independent Contractor
Barbara: I’m an independent contractor and I’m making enough to pay my bills in this economy but not enough to pay the quarterly taxes and I don’t really know what to do.
Michael: Are your taxes based on the lower estimates?
Barbara: Yes and I’m still having trouble making those. I’m trying to set money aside for it but I already missed the last quarter and my accountant said I can file for fall but it’s going to be that much more.
Michael: As difficult as it may be, you may want to find yourself a W-2 job until your industry picks back up because you’re just going to keep digging a bigger hole each year if you don’t pay your taxes. A lot of the times, if you’re not making enough to pay the taxes being an independent contractor, you’ll probably end up making more (net) being a w-2 employee.
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Filing for Amends on Past Returns
William: I’ve been married to a illegal alien since 2006, but I haven’t been able to put her as a dependent because she has no Social Security Number.
Michael: You can get a IRS tax ID from Pennsylvania, they have an international unit there–this will allow you to claim your wife as a dependent on your returns.
William: How far back can I go to file for refunds? How many years?
Michael: You have 3 years from the date that the tax return was due to file an amendment. So right now, since the 2006 return was due in April of 2007, you have until April of 2010 to amend the 2006 return. So ‘06, ‘07, and ‘08 are the years you can claim a tax refund for.
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I Answered More Questions to Back Taxes and IRS Debt
Listen to the full interview for more tax tips!
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Contact our specialized staff of tax attorneys, CPAs, EAs and tax professionals. Visit the Tax Resolution Services web site for a free tax relief consultation or call us at 866-IRS-PROBLEMS.
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