tax explanations

December 29, 2022

Within the last 10 years, have you failed to timely file any applicable state or federal income tax return and/or report required by law?

 

With reference to this question, I remorsefully admit that I delayed to file my income tax return. However, the delay was caused by reasons beyond my control, which reasons I can prove by pertinent details herein below. 

I have been a hardworking and vigilant professional. In the 15 years of my management career, I have handled and managed public funds amounting to millions of dollars. Notably, I have never received any complaint from anybody regarding my performance. In light of the foregoing, I acknowledge that it is my civic duty to file my income tax returns on time. It is for that reason that when I was employed, I engaged my employers to deduct money from my pay and settle my tax obligations. The situation changed when I became self-employed. I lacked technical knowledge on tax matters, and could not get access to the specialized human resource and accountants whose access I had when I was employed. Accordingly, I had to learn money management the hard way. In 2017, I hired the services of a local firm to help me work on my tax matters. Afterwards, I also hired a national tax debt specialist who helped me keep up my tax obligations until the IRS suspended the payment obligations due to the COVID-19 pandemic. After the resumption of payment obligations, I hired the services of a local CPA firm of good standing nationally, who has reviewed my previous filings and correct any errors thereby. We eventually worked on an installment plan, which failed to take effect due to the COVID-19 pandemic. I experienced shortages in staffing and delays in processing at the IRS. Besides, it was discovered that I was a victim of tax fraud. We have filed an Affidavit and are working to evaluate the impact.   

I therefore respectfully aver that the foregoing constitutes a valid reason for filing my delay in filing my income tax returns. I am reasonably working to improve the situation, and I am certain I shall get back on track. 

 

Within the last 10 years, have you failed to pay any taxes owed pursuant to state or federal law at the time such taxes were due?

 

I acknowledge that I have had issues beyond my control, which may have hampered my fulfillment of my tax obligations. Therefore, to help me adhere to my tax obligations, I have in place a tax installment plan. I have also resolved to make quarterly payments on time. Regarding the tax fraud incidence, I have engaged the services of my CPA firm and my Tax Attorney, who are reviewing the impact of the tax fraud on my previous filings. In sum, I have learnt the hard way that it is incumbent for me to acquire proficiency in tax matters so I could detect, avoid, and prevent any issues. My legal education will also go a long way in equipping me with the requisite skills.

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