Avoid IRS Substitue for Return, (SFR) in Plantation, FL

By
Services for Real Estate Pros with Premier Tax Relief, Inc

As the deadline for filing Form 1040 for 12/31/18 is approaching, (October 15, 2019)  I am sure that most of you have already filed your return and paid the tax.  What happens if you have not filed the return for December 31, 2018. I can give you some free advice:  file the darn return!  If you do not file the return, the IRS will FILE a Substitue for Return, (SFR) for you, usually about two years after the original tax return would have been due.  THIS IS NOT A GOOD THING, as the IRS will prepare the SFR without taking any deductions or exemptions the taxpayer is entitled to.  For example, let's say you are a real estate broker and have received 1099-MISC in the amount of $200,000.  The IRS has this information and will use the ross income of $200,000 and NOT INCLUDED ANY EXPENSES YOU HAVE.

If you find yourself with SFR's and unfiled returns, please call me to resolve your IRS issues. 

MaryAnn Schoolden, CPA

premiertaxrelief@att.net

954.474.1539

 

Comments (4)

The Woodland Team of Texas
The Woodland Companies - Austin, TX
Land Specialists

Welcome to ActiveRain, I hope that your participation here helps your business to grow.
Btw, I followed your blog, and would be honored if you followed mine.
Thank You!

Sep 25, 2019 09:28 PM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

MaryAnn Schoolden welcome to ActiveRain, and congratulations on successfully posting your first blog on this site.

Sep 26, 2019 05:27 PM
MaryAnn Schoolden, CPA
Premier Tax Relief, Inc - Plantation, FL
Tax Resolution/IRS Representation

Thank you!!!

Sep 29, 2019 06:24 AM
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Welcome to Active Rain, looking forward to reading many more of your posts, let me know if there is anything that I can do to help as you get started here.
All the best of success to you.
Bob

Nov 13, 2019 07:06 PM