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#4
04-24-2008, 10:20 PM
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 Re: Penalty for Filing Income Taxes Late? Haskel LaPort wrote: What type of penalty should I expect for filing late? - quote - > None, you are getting refunds. Take all the time you need.
But if an audit later shows tax due, late filing penaltywill apply, accruing at 5% per month on 04/16, 05/16...08/16. So get it filed by 05/15 to avoid any additional potential 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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#3
04-24-2008, 10:19 PM
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| Re: Penalty for Filing Income Taxes Late? On Apr 24, 7:25*am, Brian <brian.donald...[at]gmail.com> wrote: - quote - > I just realized tonight that I did not sign and return my tax > documents to my tax preparer to file with the IRS by the 15th. *I plan > to fax the document to my tax preparer tomorrow (4/24). *I was > expecting a $3500 refund from federal and a $800 refund from the State > of Iowa. *What type of penalty should I expect for filing late? > Thanks, > Brian The next questions are, why do you have so much tax refund, and why do you leave your tax refund unclaimed for so long? -- << ------------------------------------------------------- > << 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
04-24-2008, 04:58 PM
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| Re: Penalty for Filing Income Taxes Late? On Apr 24, 7:25*am, Brian <brian.donald...[at]gmail.com> wrote: - quote - > I just realized tonight that I did not sign and return my tax > documents to my tax preparer to file with the IRS by the 15th. *I plan > to fax the document to my tax preparer tomorrow (4/24). *I was > expecting a $3500 refund from federal and a $800 refund from the State > of Iowa. *What type of penalty should I expect for filing late? > Thanks, > Brian They are using $4,000 of your money interest free, and you think they are still going to fine you? I personally would expect a thank you letter. -- << ------------------------------------------------------- > << 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
04-24-2008, 04:57 PM
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| Re: Penalty for Filing Income Taxes Late? "Brian" <brian.donaldson[at]gmail.com> wrote in message news:90df5895-c66b-415f-9b57-51b13a0aced1[at]z72g2000hsb.googlegroups.com... - quote - > I just realized tonight that I did not sign and return my tax
None, you are getting refunds. Take all the time you need.> documents to my tax preparer to file with the IRS by the 15th. I plan > to fax the document to my tax preparer tomorrow (4/24). I was > expecting a $3500 refund from federal and a $800 refund from the State > of Iowa. What type of penalty should I expect for filing late? - quote - > Thanks,
--> Brian << ------------------------------------------------------- > << 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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04-24-2008, 03:18 PM
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| Re: Penalty for Filing Income Taxes Late? In article <90df5895-c66b-415f-9b57-51b13a0aced1[at]z72g2000hsb.googlegroups.com> , Brian <brian.donaldson[at]gmail.com> wrote: - quote - > I just realized tonight that I did not sign and return my tax > documents to my tax preparer to file with the IRS by the 15th. I plan > to fax the document to my tax preparer tomorrow (4/24). I was > expecting a $3500 refund from federal and a $800 refund from the State > of Iowa. What type of penalty should I expect for filing late? In general the penalty is based on how much tax you still owe. Since there is a refund, I would not expect any penalty. -- ArtKamlet at a o l dot c o m Columbus OH K2PZH -- << ------------------------------------------------------- > << 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
04-24-2008, 02:25 PM
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| Penalty for Filing Income Taxes Late? I just realized tonight that I did not sign and return my tax documents to my tax preparer to file with the IRS by the 15th. I plan to fax the document to my tax preparer tomorrow (4/24). I was expecting a $3500 refund from federal and a $800 refund from the State of Iowa. What type of penalty should I expect for filing late? Thanks, Brian -- << ------------------------------------------------------- > << 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 |
| filing, income, late, penalty, taxes |
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