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#16
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| In article <D9fEj.23038$vr3.1477[at]bignews2.bellsouth.net> , Harlan Lunsford <hnslunsford[at]bellsouth.net> wrote: - quote - > Seth wrote:
There's maybe a 99% chance that the IRS will get it right. Given the> > In article <LSGBj.17743$r76.10765[at]bignews8.bellsouth.net> , > > Paul Thomas <paulthomascpa[at]bellsouth.net> wrote: > > > "Seth" <sethb[at]panix.com> wrote > > > > But it's quite possible that the OP has a safe harbor (e.g. withheld > > > > during 2007 exceeds taxes owed for 2006 + 10%), and still owes a lot > > > > for 2007. Then he underpaid with the first 1040V. > > > Anything is possible. If that is the case, then he could use a 1040ES > > > without fail, > > > If he sends a 1040ES for 2007 at this late date, wouldn't that cause > > problems (with the IRS considering it to be for 2008)? > > Not if he uses the only 1040ES available at the moment which is clearly > proclaimed upper right as being "2 0 0 7". difference in cost between using that and using the 1040V, why risk it? Seth -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#15
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| DF2 wrote: - quote - > In misc.taxes.moderated, Harlan Lunsford wrote:
1040es. then at bottom, click on "retrieve", and presto! there it is,> > Not if he uses the only 1040ES available at the moment which is clearly > > proclaimed upper right as being "2 0 0 7". > > > Now for 2008, the 1040es vouchers won't be in the mail until about April > > 1st so I hear. > I got my pre-printed ones in the mail a week or two ago. > http://www.irs.gov/pub/irs-pdf/f1040es.pdf has 2008 for download. > He needs the 2007. I could not find that on the IRS site currently, > but that does not mean it is not there. It's there. Find listing for forms, an scroll through the box to in pdf. ChEAr$, Harlan Lunsford, EA n LA -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#14
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| In misc.taxes.moderated, Harlan Lunsford wrote: - quote - > Not if he uses the only 1040ES available at the moment which is clearly
I got my pre-printed ones in the mail a week or two ago.> proclaimed upper right as being "2 0 0 7". > Now for 2008, the 1040es vouchers won't be in the mail until about April > 1st so I hear. http://www.irs.gov/pub/irs-pdf/f1040es.pdf has 2008 for download. He needs the 2007. I could not find that on the IRS site currently, but that does not mean it is not there. -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#13
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| Seth wrote: - quote - > In article <LSGBj.17743$r76.10765[at]bignews8.bellsouth.net> ,
proclaimed upper right as being "2 0 0 7".> Paul Thomas <paulthomascpa[at]bellsouth.net> wrote: > > "Seth" <sethb[at]panix.com> wrote > > > But it's quite possible that the OP has a safe harbor (e.g. withheld > > > during 2007 exceeds taxes owed for 2006 + 10%), and still owes a lot > > > for 2007. Then he underpaid with the first 1040V. > > Anything is possible. If that is the case, then he could use a 1040ES > > without fail, > If he sends a 1040ES for 2007 at this late date, wouldn't that cause > problems (with the IRS considering it to be for 2008)? > Seth Not if he uses the only 1040ES available at the moment which is clearly Now for 2008, the 1040es vouchers won't be in the mail until about April 1st so I hear. ChEAr$, Harlan Lunsford, EA n LA -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#12
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| In article <LSGBj.17743$r76.10765[at]bignews8.bellsouth.net> , Paul Thomas <paulthomascpa[at]bellsouth.net> wrote: - quote - > "Seth" <sethb[at]panix.com> wrote
If he sends a 1040ES for 2007 at this late date, wouldn't that cause> > But it's quite possible that the OP has a safe harbor (e.g. withheld > > during 2007 exceeds taxes owed for 2006 + 10%), and still owes a lot > > for 2007. Then he underpaid with the first 1040V. > Anything is possible. If that is the case, then he could use a 1040ES > without fail, problems (with the IRS considering it to be for 2008)? Seth -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#11
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| "Harlan Lunsford" <hnslunsford[at]bellsouth.net> wrote - quote - > Paul Thomas wrote: > > "Seth" <sethb[at]panix.com> wrote > > > But it's quite possible that the OP has a safe harbor (e.g. withheld > > > during 2007 exceeds taxes owed for 2006 + 10%), and still owes a lot > > > for 2007. Then he underpaid with the first 1040V. > > > > > Anything is possible. If that is the case, then he could use a 1040ES > > without fail, or a 1040V, or just send in a check with his SSN and "2007 > > Form 1040" on it. The IRS seems pretty adept at cashing them. > > No doubt as to that. You can even make your check out to Georgia > Department of Revenue and send it to IRS and they'll cash it. Oh, and > vice versa of course. > Nobody looks at anything! Actually they've gotten a little better as of late. A client of mine sent in both her georgia and federal payments to the IRS, Georgia assessed a late payment penalty and interest. She brought the notice by here, we sent her back out to get copies of the canceled check that she swore she wrote, of course, in her mail that day was an envelope from the IRS with her Georgia check in it. We convinced the state to abate the penalties, she forked over for the interest and was grateful that lesson was a cheap one. -- Paul A. Thomas, CPA Athens, Georgia -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#10
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| Harlan Lunsford wrote: - quote - > No doubt as to that. You can even make your check out to Georgia
I once dealt with a taxpayer who had a misapplied payment> Department of Revenue and send it to IRS and they'll cash it. Oh, and > vice versa of course. > Nobody looks at anything! issue. He faxed a copy of the canceled check to the service center. They couldn't read the DLN on the fax so asked him to send the original. He did. They deposited the canceled check, It, of course, bounced at his bank. They assessed a bad check penalty. |-{ -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#9
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| D. Stussy wrote: - quote - > "Harlan Lunsford" <hnslunsford[at]bellsouth.net> wrote in message
Especially since an ES payment at this time would probably> news:fzCBj.2673$Q52.1743[at]bignews9.bellsouth.net... > > Paul Thomas, CPA wrote: > > > "none" <hanish123[at]gmail.com> wrote > > > > I filed an extension and I paid the money I thought I owed as I was > > > > not expecting to file my return before April 15th. I have since > > > > discovered, however, that I underpaid what i am going to owe. How do > > > > I go about paying the remainder before April 15th without incurring a > > > > penalty/interest as I would if I waited until I filed my return? Can > > > > I just file a second extension with the remaining payment? Is there a > > > > form to use just to send in a payment in alone? > > > I'd use Form 1040ES. > > > > At this stage of the game a 1040es coupon is not the way to go. Since > > "none" (if that IS his real name!) filed an extension already, he sent > > in estimated balance due with the voucher with that form. Simply print > > out another voucher, and mail it in with the money. > I agree. I'd use a 1040-V. be applied to 2008, no matter the date on the form. -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#8
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| Paul Thomas wrote: - quote - > "Seth" <sethb[at]panix.com> wrote
Department of Revenue and send it to IRS and they'll cash it. Oh, and> > But it's quite possible that the OP has a safe harbor (e.g. withheld > > during 2007 exceeds taxes owed for 2006 + 10%), and still owes a lot > > for 2007. Then he underpaid with the first 1040V. > Anything is possible. If that is the case, then he could use a 1040ES > without fail, or a 1040V, or just send in a check with his SSN and "2007 > Form 1040" on it. The IRS seems pretty adept at cashing them. No doubt as to that. You can even make your check out to Georgia vice versa of course. Nobody looks at anything! ChEAr$, Harlan Lunsford, EA n LA -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#7
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| "Harlan Lunsford" <hnslunsford[at]bellsouth.net> wrote in message news:fzCBj.2673$Q52.1743[at]bignews9.bellsouth.net... - quote - > Paul Thomas, CPA wrote:
I agree. I'd use a 1040-V.> > "none" <hanish123[at]gmail.com> wrote > > > I filed an extension and I paid the money I thought I owed as I was > > > not expecting to file my return before April 15th. I have since > > > discovered, however, that I underpaid what i am going to owe. How do > > > I go about paying the remainder before April 15th without incurring a > > > penalty/interest as I would if I waited until I filed my return? Can > > > I just file a second extension with the remaining payment? Is there a > > > form to use just to send in a payment in alone? > > > I'd use Form 1040ES. > > At this stage of the game a 1040es coupon is not the way to go. Since > "none" (if that IS his real name!) filed an extension already, he sent > in estimated balance due with the voucher with that form. Simply print > out another voucher, and mail it in with the money. -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#6
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| "Seth" <sethb[at]panix.com> wrote - quote - > But it's quite possible that the OP has a safe harbor (e.g. withheld > during 2007 exceeds taxes owed for 2006 + 10%), and still owes a lot > for 2007. Then he underpaid with the first 1040V. Anything is possible. If that is the case, then he could use a 1040ES without fail, or a 1040V, or just send in a check with his SSN and "2007 Form 1040" on it. The IRS seems pretty adept at cashing them. -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#5
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| In article <t1DBj.15038$dT.4500[at]bignews1.bellsouth.net> , Paul Thomas, CPA <paulthomascpapc[at]bellsouth.net> wrote: - quote - > The OP sent in a payment (don't know the date) and if they are underpaid -
But it's quite possible that the OP has a safe harbor (e.g. withheld> to the point that they should have made quarterly estimated tax deposits - > it doesn't matter how he sends in the payment, it's still late per the > quarterly deposit rules. In fact he could over pay with the 1040V and still > be subjected to a penalty for not making quarterly estimates. during 2007 exceeds taxes owed for 2006 + 10%), and still owes a lot for 2007. Then he underpaid with the first 1040V. Seth -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#4
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| In article <t1DBj.15038$dT.4500[at]bignews1.bellsouth.net> , "Paul Thomas, CPA" <paulthomascpapc[at]bellsouth.net> wrote: - quote - > The OP sent in a payment (don't know the date) and if they are underpaid -
The OP is talking about his 2007 taxes, which aren't due until April 15,> to the point that they should have made quarterly estimated tax deposits - > it doesn't matter how he sends in the payment, it's still late per the > quarterly deposit rules. 2008. So how can he be late already? Whether he's required to make quarterly estimated payments for 2008 is a totally unrelated matter, and depends on his withholdings for 2008. -- Barry Margolin, barmar[at]alum.mit.edu Arlington, MA *** PLEASE don't copy me on replies, I'll read them in the group *** -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#3
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| "Jonathan Kamens" <jik[at]kamens.brookline.ma.us> wrote - quote - > "Paul Thomas, CPA" <paulthomascpapc[at]bellsouth.net> writes: > > "none" <hanish123[at]gmail.com> wrote > > > [How do I send in another payment if I underpaid with my > > > extension request?] > > > I'd use Form 1040ES. > It seems to me that using 1040ES would muddy the waters in a > potentially dangerous way. A 1040ES sent in now would be > considered late by the IRS, since the last quarter's 1040ES > payment was due by January 15, and might cause the IRS to > expect the taxpayer to do quarterly calculations of his > underpayment. The OP sent in a payment (don't know the date) and if they are underpaid - to the point that they should have made quarterly estimated tax deposits - it doesn't matter how he sends in the payment, it's still late per the quarterly deposit rules. In fact he could over pay with the 1040V and still be subjected to a penalty for not making quarterly estimates. I don't see the IRS getting tripped up over a late filed 1040ES any more than a second 1040V, any more than attaching the payment to a piece of paper with a note about how the initial amount was computed short. They're going to record the payment as of the date postmarked or the date received (or both). Any penalties for not making estimates (if they were required) will be based on the amount of the tax and the date the payment was received. -- Paul A. Thomas, CPA Athens, Georgia -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#2
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| "Paul Thomas, CPA" <paulthomascpapc[at]bellsouth.net> writes: - quote - > "none" <hanish123[at]gmail.com> wrote
It seems to me that using 1040ES would muddy the waters in a> > [How do I send in another payment if I underpaid with my > > extension request?] > I'd use Form 1040ES. potentially dangerous way. A 1040ES sent in now would be considered late by the IRS, since the last quarter's 1040ES payment was due by January 15, and might cause the IRS to expect the taxpayer to do quarterly calculations of his underpayment. Why not just send in the payment with form 1040V? Alternatively, the OP can sign up at www.efpts.gov and make the payment electronically. -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#1
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| Paul Thomas, CPA wrote: - quote - > "none" <hanish123[at]gmail.com> wrote
"none" (if that IS his real name!) filed an extension already, he sent> > I filed an extension and I paid the money I thought I owed as I was > > not expecting to file my return before April 15th. I have since > > discovered, however, that I underpaid what i am going to owe. How do > > I go about paying the remainder before April 15th without incurring a > > penalty/interest as I would if I waited until I filed my return? Can > > I just file a second extension with the remaining payment? Is there a > > form to use just to send in a payment in alone? > I'd use Form 1040ES. At this stage of the game a 1040es coupon is not the way to go. Since in estimated balance due with the voucher with that form. Simply print out another voucher, and mail it in with the money. ChEAr$, Harlan Lunsford, EA n LA -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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| "none" <hanish123[at]gmail.com> wrote - quote - > I filed an extension and I paid the money I thought I owed as I was > not expecting to file my return before April 15th. I have since > discovered, however, that I underpaid what i am going to owe. How do > I go about paying the remainder before April 15th without incurring a > penalty/interest as I would if I waited until I filed my return? Can > I just file a second extension with the remaining payment? Is there a > form to use just to send in a payment in alone? I'd use Form 1040ES. - quote - > If I file my actual return before April 15th will I run into any > problems since I already asked for an extension? Nope. -- Paul A. Thomas, CPA Athens, Georgia -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#-1
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| I filed an extension and I paid the money I thought I owed as I was not expecting to file my return before April 15th. I have since discovered, however, that I underpaid what i am going to owe. How do I go about paying the remainder before April 15th without incurring a penalty/interest as I would if I waited until I filed my return? Can I just file a second extension with the remaining payment? Is there a form to use just to send in a payment in alone? If I file my actual return before April 15th will I run into any problems since I already asked for an extension? Thanks in advance for any guidance. -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
| Tags |
| 15th, april, paying, taxes |
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