Steven Scharf wrote:

- quote -

Federal: No.
State: VARIES. Some states will impose a late filing
penalty even if a refund is due.

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"Steven Scharf" <scharf[at]hotmail.com> wrote
- quote -

Not for individuals at the federal level. Your state may
have something, but it's doubtful.

--
Paul A. Thomas, CPA
taxman at negia.net

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scharf[at]hotmail.com (Steven Scharf) wrote:

- quote -

Since you will owe no tax, no penalty is usually assessed.
Of course, you are letting the IRS hold on to YOUR money for
a long time - with no interest being paid to you. How smart
is that?

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No. All FEDERAL penalties are based on tax owed and 5% of
zero is zero.

Nan, EA in LA
P.S. Check your state, however. California has a nasty
habit of basing penalty on tax.

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"Steven Scharf" <scharf[at]hotmail.com> wrote:

- quote -

No, but there is a three-year statute of limitations which
governs IRS' authority to pay you your refund once a claim,
i.e. return, is filed. If your 2002 return is on extension
until Oct. 15, 2003, the three-year statute of limitations
with respect to 2002 will lapse on October 15, 2006
(extended due date plus three years). Also, IRS cannot pay
interest on the refund except to the extent more than 45
days elapses from the date the return is filed.

Barney Byrd

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"Steven Scharf" <scharf[at]hotmail.com> wrote:

- quote -

There will be no penalty if you have, in fact, overpaid
your taxes.

Wayne Brasch, CPA, M. S. Taxation

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scharf[at]hotmail.com (Steven Scharf) writes:

- quote -


NO!! Not at the federal level!!-

"Jack" - John H. Fisher - TaxService[at]aol.com
Philadelphia, Pa - Atlantic City, NJ - West Wildwood, NJ
My Newsgroups & Boards at: http://members.aol.com/TaxService/index.html

Where Ignorance is bliss, 'tis folly to be wise!=

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Steven Scharf <scharf[at]hotmail.com> wrote:

- quote -

Assumuing you sent in at least as much as you owed and you
sent it in by April 15th, then I wouldn't worry about late
filing.

Too late and you won't get a refund, however :^)

__
Art Kamlet ArtKamlet [at] AOL.com Columbus OH K2PZH

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I sent in way more money than I owed, and will be
getting a refund, but I can't file by 10/15 as
I'm going out of the country and I'm not quite
done.

Is there a penalty for filing late even if no
tax is owed?

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