Tuesday, January 17, 2012

Getting up to date on filing my taxes.?

I have not filed my taxes since 1983. For the last 28 years I have had multiple jobs as an “employee” working for someone else, but have never earned anything more than a few thousand dollars each year. I have done odd jobs, like “handyman” work to supplement my income as an employee and have also earned a college degree over the years. I am the custodial parent of a 16 year old and receive child support payments. I’m wanting to get up to date with Uncle Sam but have no idea on where to begin. Any W-2’s I’ve received from past employers have either been lost or destroyed and I find it would most likely be impossible to obtain a copy of them due to extenuating cirstances. Many of the places I have worked as an employee are no longer in business or have been sold. When I first started earning money without an employer, I never thought it would become my primary source of income, therefore, I haven’t really kept track of earnings or costs directly ociated with each job. I’d like to start filing my income taxes not only because it’s the right thing to do, but I’d like to take part in some of the new tax benefits afforded these days. Namely the Earned Income tax credit and Head of Household. Please, can someone point me in the right direction to get things started? Can a person who is self employed take part in these benefit programs that I’ve mentioned? I’m certain that over the last 7 or 8 years my combined income from employee wages, performing odd jobs and child support payments has never exceeded $15,000. Even less than this amount during the years before. Actually, this is a relatively high estimated amount. A more modest and probably more accurate amount would be $11,000. What kind of penalties am I looking at? How many years do I go back? Should I worry about going to prison? Where can I go to get help with filing? Please only give answers that come from knowledge through formal education or personal experience. I thank you in advance for your advise in this matter.

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