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About Mike Wellman
Expertise
I was a former Manager with Price Waterhouse, now PricewaterhouseCoopers, the largest accounting firm in the world. I have had clients in almost every industry and of every size.
I will only answer questions dealing with IRS problems such as delinquent tax returns, Offers in Compromise (Tax Settlement), IRS collection matters including installment agreements, liens, levies, seizures, audits, appeals, innocent spouse claims and injured spouse claims. All other will be referred to the question pool.
Experience
Over 25 years experience in taxation specializing in IRS collections, examinations and appeals.
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New York Times, Wall Street Journal, Your Money.
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BBA, Baylor University.
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IRSOS.com won the Knowledgeweb award for educational excellence for content.
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You are here: Experts > Business > Corporate Law > Tax Law (Questions About Taxes) > Sole proprietor tax records request
Expert: Mike Wellman
Date: 1/28/2008
Subject: Sole proprietor tax records request
Question
I was recently looking to buy a business from an associate of mine. I requested the tax returns for the last three years like the SCORE advisor recommended and was denied, the owner told me that I was not allowed to request that information and it was a deal breaker. He then stated that I was only buying the product associated with the business and that sole proprietor acting with a DBA records are not available for public view. Am I right to think there is something fishy, and is there a place I can find the tax records for myself? I am sorry for taking your time with a question that might be easily answered but I can't find the information online nor do I know how to search it out. If you can help me, I would sincerely appreciate and help that is available.
Sincerely,
Krystal Johnson
Answer
You cannot compel the release of tax information and there is no place you can go to get it. The bottom line is, if you feel that information is important to your decision-making, then do not do the deal. I don't know enough to tell you if that information would be helpful or necessary to make a decision.
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