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IRS Account Transcript Analysis: Unfiled Returns

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Words 273
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Transcript Analysis
If you owe back taxes, or have unfiled returns, or are in any way concerned about an IRS problem, it is best to first find out what the IRS knows about you. This information about you can be obtained from an IRS account transcript. An IRS account transcript can tell us:
1. How much you owe in tax, interest and penalties.
2. The actual number of unfiled returns you have.
3. If you did not file a tax return, whether the IRS filed an estimated return for you.
4. If the IRS can levy your bank accounts and wages, or seize your property.
5. How long the IRS has left to collect your debt.
6. When you filed your return, if there have been any audits.
7. If you have the option of filing bankruptcy on the IRS to eliminate your tax

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