Resilience and Resolve with Lance Drury
Episode Summary: In this episode of *Resilience and Resolve* Lance Drury sheds light on the crucial topic of filing unfiled tax returns. Lance emphasizes the IRS's requirement of filing the last six years of tax returns before considering settlement options. He warns against the risks of guessing wrong and highlights the common mistakes made by taxpayers and accountants. Understanding the implications of filing the correct number of years can make a significant difference in resolving tax issues effectively. Key Timestamps: 00:00 – Introduction 00:45 – IRS regulation on filing tax returns 01:30 – Mistakes made by accountants in advising taxpayers 03:15 – Importance of filing the last six years only 05:10 – Consequences of filing fewer years than required 07:20 – Being compliant for negotiation with the IRS 08:45 – Ensuring 100% compliance moving forward 10:00 – Risks of assuming older years don't matter 11:30 – IRS's ability to enforce collection with unfiled returns 13:00 – Impact of income reporting on filing requirements 14:30 – Opening doors to resolution options with correct filings 16:00 – Advice for individuals unsure about filing requirements About the Show: *Resilience and Resolve* with Lance Drury provides essential insights and guidance for individuals and small business owners dealing with IRS tax problems. With over 30 years of experience, Lance helps clients regain control in challenging tax situations, offering actionable strategies to navigate tax-related issues effectively.
60 episodios
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