I am about to embark on the Chapter 7 process and haven't filed a federal or state return since 2004. Other than earning $9K in 2009, my income has fluctuated between $2K and $4K yearly- not enough to owe any taxes on, so I haven't filed. The IRS filed for me in 2004 ($4K in wages) and allowed me to submit an amended return which showed I owed nothing, and they haven't bothered me since.
I definitely owe a pretty hefty chunk of last year's $9K and I may owe a tiny bit (less than $50) for 2008 (with hopefully not too hefty of a penalty). My wages for 2007 were less than $2K so I owe nothing there. Before that, though, I definitely owed nothing (less than $4K income per year), but... tracking down W-2s is proving to problematic- and receipts... forget about it.
Presently, I'm leaning toward filing the last 3 years. If further back is requested, than I have no other choice, but, unless a return is asked for, I don't plan on filing 05 and 06. Does anyone see a problem with this? Are unfiled returns from 4 and 5 years ago going to get me in trouble?
Also, when's the best time to file all these returns? Prior to filing C7, right? I have no money coming back and I'm well below the median income line. It's all liability. Most likely somewhere in the $1,000 realm.
I definitely owe a pretty hefty chunk of last year's $9K and I may owe a tiny bit (less than $50) for 2008 (with hopefully not too hefty of a penalty). My wages for 2007 were less than $2K so I owe nothing there. Before that, though, I definitely owed nothing (less than $4K income per year), but... tracking down W-2s is proving to problematic- and receipts... forget about it.
Presently, I'm leaning toward filing the last 3 years. If further back is requested, than I have no other choice, but, unless a return is asked for, I don't plan on filing 05 and 06. Does anyone see a problem with this? Are unfiled returns from 4 and 5 years ago going to get me in trouble?
Also, when's the best time to file all these returns? Prior to filing C7, right? I have no money coming back and I'm well below the median income line. It's all liability. Most likely somewhere in the $1,000 realm.