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Transcript analysis is the first step to investigate your record of account. This process is also known as a compliance check and begins immediately in order to determine if you have any outstanding filing requirements. This information is obtained directly from the IRS and discloses the amount the IRS claims that you owe, including penalties and interest, the years for which you owe, and any unfiled tax returns.

Every wage earner and business is required to file tax returns. If you do not file your tax returns for more than three years and owe back taxes, the IRS can file criminal charges against you and proceed directly to collection action. The IRS can also file a Substitute for Return or “SFR” on your behalf.The IRS will file returns in the best interest of the government, therefore, the IRS will claim that you owe more than you actually do, because they assume that you don’t have any deductions or exemptions. Read More Then, they add on penalties and interest. If you have years of unfiled returns, it is important to become compliant, as it is an integral part of resolving your tax debt.