Comments on: What Happens if You Miss the Tax Deadline? http://cashmoneylife.com/missed-tax-deadline-penalties-fees/ Money Management, Small Business, Career Thu, 09 Feb 2012 19:08:34 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Fred http://cashmoneylife.com/missed-tax-deadline-penalties-fees/#comment-35524 Fred Thu, 06 Oct 2011 23:40:30 +0000 http://cashmoneylife.com/?p=1533#comment-35524 There's no penalty if you're owed a refund. The government thanks you for allowing them to hold onto your money for free. And they'll happily keep it permanently if you don't file within 3 years of the original deadline. There’s no penalty if you’re owed a refund. The government thanks you for allowing them to hold onto your money for free. And they’ll happily keep it permanently if you don’t file within 3 years of the original deadline.

]]> By: Ryan http://cashmoneylife.com/missed-tax-deadline-penalties-fees/#comment-35446 Ryan Thu, 06 Oct 2011 07:25:05 +0000 http://cashmoneylife.com/?p=1533#comment-35446 My taxes were withheld and paid by my employer but I never filed for the past 2 years. Every year before, when I filed, I always got some money.. What are my penalties if I'm owed a refund but have not filed? thanks My taxes were withheld and paid by my employer but I never filed for the past 2 years. Every year before, when I filed, I always got some money..

What are my penalties if I’m owed a refund but have not filed?

thanks

]]> By: fredct http://cashmoneylife.com/missed-tax-deadline-penalties-fees/#comment-33298 fredct Thu, 23 Jun 2011 10:40:21 +0000 http://cashmoneylife.com/?p=1533#comment-33298 If that was your only income in 2008 (as you imply it was), you are well below the filing limits and you would owe no taxes anyway. The only reason you would want to file would be if you had money withheld that you wanted back, or some refundable tax credit that you wanted to claim. You can check our the rules under IRS Publication 17, Chapter 1, Section titled: "Do I have to file?" http://www.irs.gov/publications/p17/ch01.html#en_US_2010_publink1000170388 If that was your only income in 2008 (as you imply it was), you are well below the filing limits and you would owe no taxes anyway. The only reason you would want to file would be if you had money withheld that you wanted back, or some refundable tax credit that you wanted to claim.

You can check our the rules under IRS Publication 17, Chapter 1, Section titled: “Do I have to file?”
http://www.irs.gov/publications/p17/ch01.html#en_US_2010_publink1000170388

]]> By: joe http://cashmoneylife.com/missed-tax-deadline-penalties-fees/#comment-33279 joe Tue, 21 Jun 2011 09:02:49 +0000 http://cashmoneylife.com/?p=1533#comment-33279 Hey I had a question .I'm a 1st time tax payer,I live with my parents,and i only have one job and that is making money off of this gpt site on the internet An in 2008 i made $725.42 from that gpt site,and after i made that much money from that gpt site in 2008,then in 2009 that gpt site had wanted me to send them a w-9 form ,and so i did send them one in 2009,and then in 2009 they had sent me 1099 misc forms in the mail to file for 2008 taxes ,and instead of me filing the 1099 misc in 2009 for 2008 taxes , i had accidentally lost the 1099 misc forms,and now it's in 2011 ,and i had wanted to know if it would still be possible if I could still file the 1099 misc for the 2008 taxes and pay off the taxes that I might owe,and if it is then i wonder if you would know how much I would owe in late charges for filing and paying off 2008 taxes really late ? please help me Hey I had a question .I’m a 1st time tax payer,I live with my parents,and i only have one job and that is making money off of this gpt site on the internet
An in 2008 i made $725.42 from that gpt site,and after i made that much money from that gpt site in 2008,then in 2009 that gpt site had wanted me to send them a w-9 form ,and so i did send them one in 2009,and then in 2009 they had sent me 1099 misc forms in the mail to file for 2008 taxes ,and instead of me filing the 1099 misc in 2009 for 2008 taxes , i had accidentally lost the 1099 misc forms,and now it’s in 2011 ,and i had wanted to know if it would still be possible if I could still file the 1099 misc for the 2008 taxes and pay off the taxes that I might owe,and if it is then i wonder if you would know how much I would owe in late charges for filing and paying off 2008 taxes really late ?

please help me

]]> By: Ryan http://cashmoneylife.com/missed-tax-deadline-penalties-fees/#comment-32989 Ryan Sun, 05 Jun 2011 04:36:55 +0000 http://cashmoneylife.com/?p=1533#comment-32989 Logan, the best course of action is to file an amended tax return this year. If you owe any penalties they will be lighter the sooner you file them. It's always better to be proactive with the IRS and admit an error instead of waiting for them to find it or trying to ignore it. Logan, the best course of action is to file an amended tax return this year. If you owe any penalties they will be lighter the sooner you file them. It’s always better to be proactive with the IRS and admit an error instead of waiting for them to find it or trying to ignore it.

]]> By: Logan http://cashmoneylife.com/missed-tax-deadline-penalties-fees/#comment-32982 Logan Sat, 04 Jun 2011 11:09:48 +0000 http://cashmoneylife.com/?p=1533#comment-32982 I already filed my 2010 tax returns but forgot to include 1 more tax return from one of my part time job, can I just include that for next year's return instead? Am I gonna be penalized? I already filed my 2010 tax returns but forgot to include 1 more tax return from one of my part time job, can I just include that for next year’s return instead? Am I gonna be penalized?

]]> By: dianne http://cashmoneylife.com/missed-tax-deadline-penalties-fees/#comment-32708 dianne Thu, 19 May 2011 01:06:04 +0000 http://cashmoneylife.com/?p=1533#comment-32708 I filed my report, electronically, via Turbo Tax. Today I learned they never received it. Will I be fined? I will call Turbo Tax in the morning to learn what the next step is. Fortunately I have all the papers that were sent, but don't know the recourse? And (repeating myself) will the IRS penalize me? I filed my report, electronically, via Turbo Tax. Today I learned they never received it. Will I be fined? I will call Turbo Tax in the morning to learn what the next step is. Fortunately I have all the papers that were sent, but don’t know the recourse? And (repeating myself) will the IRS penalize me?

]]> By: fredct http://cashmoneylife.com/missed-tax-deadline-penalties-fees/#comment-31986 fredct Tue, 19 Apr 2011 16:56:25 +0000 http://cashmoneylife.com/?p=1533#comment-31986 Why don't you file an extension (Form 4868). It's free, easy, and automatic, and will give you 6 extra months. That way you won't have to worry about it. Why don’t you file an extension (Form 4868). It’s free, easy, and automatic, and will give you 6 extra months. That way you won’t have to worry about it.

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