wwe opened a company a while ago, and my parents never filed taxes, now i am left with 11000.00 to pay over my oarents not filling for taxes, which i never even knew they still were using the company.
Personal Injury Lawyer
I typically try to answer questions with the most details that I possible can but your facts are not detailed enough to provide an adequate answer. I suspect that there are many tax issues within your question so I suggest that you ask a tax attorney in Texas to get the answers that you seek. There are too many variables and unknown issues for someone to attempt some advice to you.
You could try providing more details about the type of tax, type of company, the structure of the company, and what type of notice you received from the IRS as a good starting point.
The materials you obtain from this website by Attorney Austen Na is for informational purposes only. The materials are not legal advice, and they are not intended to be legal advice. The materials do not necessarily reflect the opinions of Attorney Austen Na. The materials are not guaranteed to be complete, correct, or current. The use of this website does not create an attorney-client relationship between you and Attorney Austen Na. You should not act or rely on the materials from this website without consulting an attorney licensed in your jurisdiction for advice regarding your individual circumstances. We invite you to contact Attorney Austen Na with the NA Law Firm, and we welcome your calls, letters, and electronic mail. However, please do not send any confidential or privileged information to the NA Law Firm until such time when an attorney-client relationship has been established or you have received written agreements from the NA Law Firm to provide the legal services that you requested. Your communications with the NA Law Firm may not be considered as confidential or privileged unless an attorney-client relationship has been established or you have received written agreements to provide legal services for you from the NA Law Firm.
Yes- more specific information is needed. If you formed a corporation and you were the only responsible party, you most likely will be responsible, if, in fact, the tax debt is correct. I can guess that you did not hire an attorney or CPA to form the company and do the accounting. Dont be pennywise and dollar foolish again, it will just make the IRS issue worse. Hire a tax attorney or CPA now. (not the cheap 'accountant' recommended by friends and family that can get you a 'big refund').
If these are corporate taxes which are owed, then amending the returns is one possibility. However, if the taxes owed are for late filing penalties then there are provisions to request abatement of the penalties. Revenue Procedure 84-35 may be helpful it it's a closely held entity and less than 10 owners. Without further details, it's difficult to narrow the scope of the response any further.
Becasue of the amount, you should consider getting some help to resolve this. You'll likely find that competent help will save you both time and money.
4 lawyers agree