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Old 05-08-2008, 09:03 PM
removeps-groups@yahoo.com
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Default Re: Question about Late Filing, federal/state

On May 7, 11:25*am, "web2.0" <rwest.ea...[at]gmail.com> wrote:

- quote -

> I procrastinated till May 7th, 2008 till mail the paperwork she filed
> for me.
> I owed slightly higher then $200 on fed, a few bucks on state..
> Is there any type of penalty or presumably, interest payment request
> that will be sent to me?


Probably. Penalty for not filing and paying on time is 5% a month. I
don't know if it is pro-rated. So if you mail your payment now, the
penalty will be $10. There is also interest, and it will be around $1
(around 6% a year).

Did you send in $200 with your return or did you just file the
paperwork? And if you sent in $200, did you mail a check or pay by
direct deposit?

Here is the schedule of when you can expect your refund:

http://www.irs.gov/irs/article/0,,id=180250,00.html

Assuming you mailed a check of $200 with your return, the IRS will
likely send you a notice for around $11. It will say something like
pay $11 by June 11, 2008 and no additional penalties and interest will
be assessed.

You might want to set up an acconut at EFTPS to pay electronically,
thereby avoiding postage. It takes about 2 weeks to set up the
account, so you can start today.

https://www.eftps.com/eftps/

If the penalty and interest on the state return is less than $1, they
might forget about it. However, if you file an amended state return
in the future, they might un-forget about it.


- quote -

> Does this impact the delivery of my rebate check? *To a later date?

It may.

http://www.irs.gov/newsroom/article/...181997,00.html

<QuoteQ. I filed after April 15 and the payment date for my Social Security
number has passed. How long will it take for me to get my stimulus
payment?

A. It will generally take a minimum of six weeks after you file your
return to get your stimulus payment.
</Quote
Note that the IRS may need more time to look at your return,
especially if it is borderline (like AGI of 75k, only 3k of qualifying
income, etc), so those dates are not garaunteed.



- quote -

> impecable past record, never late...this year was an exception, racked
> with bills, need any input/insight..


It is possible that they made take the $200 plus penalties and
interest out of your $600 check But as the law says that the check is
an advance credit on your 2008 taxes, in which case it may mean that
it cannot be applied to your 2007 tax due, which means that you will
still get the full $600, but have to pay the $211 seperately. I don't
really know for sure.

--
<< ------------------------------------------------------- > << 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. > << ------------------------------------------------------- >
  #-1  
Old 05-07-2008, 06:25 PM
web2.0
Guest
 
Posts: n/a
Default Question about Late Filing, federal/state

I procrastinated till May 7th, 2008 till mail the paperwork she filed
for me.




I owed slightly higher then $200 on fed, a few bucks on state..

Is there any type of penalty or presumably, interest payment request
that will be sent to me?


Does this impact the delivery of my rebate check? To a later date?

impecable past record, never late...this year was an exception, racked
with bills, need any input/insight..

--
<< ------------------------------------------------------- > << 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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