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

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




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.

Nov 13, 2019 07:06 PM