IRS Substitute for Return (SFR): What Happens When the IRS Files for You (Video) Video
The IRS Debt and Audit PodcastShow Notes
In this episode of the IRS Debt and Audit Podcast, host Sean O’Connor is joined by seasoned tax attorney Brian Loughrin to discuss the intricacies of Substitute for Returns (SFRs) filed by the IRS. Brian explains how the IRS uses software to generate these returns when taxpayers fail to file, often leading to inflated tax liabilities due to the absence of deductions. The conversation covers the randomness of SFR filings, the importance of submitting an original return to replace an SFR, and the potential pitfalls of incorrect filing addresses. Brian also highlights the implications of SFRs on bankruptcy proceedings, emphasizing that tax debts from SFRs are not dischargeable. This episode is crucial for anyone dealing with IRS issues, offering insights into how to effectively manage and potentially reduce tax liabilities.
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