Question by msAngelina: How much would an accountant charge to do 10 years of back taxes for a small business?
A family member of mine owns a small business in which he repairs windshields. He has not filed taxes for 10 years and has asked me to help. If we were to take all the paperwork to an accountant, how much would something like that cost?
Answer by becky
Depends on the accountant: how much he/she usually charges, if he/she would be willing/able to give your family member a “bulk discount”, things like that. My best guess… a lot.
Keep in mind, if your family member would have received a refund for any year earlier than 2006, it’s too late to get it – the IRS will only pay back refunds for three years (at this point, 2006-2008; 2006 only until April 15). And if he/she owes for any of those past years, the IRS will likely add interest and/or penalties on top of the tax bill. Not trying to discourage anyone – getting caught up on past-due returns is good – but just to give forewarning.
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