There is a $150 refund, but since I only earned $3,000 all year, would I get a penalty if I filed it now? Would I even get my refund money while turning it in this late?
2006-06-30 12:35:15 · 11 answers · asked by football_state_champion_2003 1 in Business & Finance ➔ Taxes ➔ United States
www.irs.gov is an excellent tax information resource. They agree with the earlier answer:
"There is no penalty for failure to file a tax return if a refund is due. But by waiting too long to file, you can lose your refund. In order to receive a refund, the return must be filed within 3 years of the due date. If you file a return, and later realize you made an error on the return, the deadline for claiming any refund due is three years after the return was filed, or two years after the tax was paid, whichever expires later. "
2006-06-30 12:41:26 · answer #1 · answered by odu83 7 · 2⤊ 1⤋
penalties are based on tax due. if no tax due no penalty--or interst charged. In fact they will pay you interest on the refund. Don't wait to long thiugh, only have three years to file for a refund--2005 tax year = 4/15/2009
2006-06-30 13:27:55 · answer #2 · answered by Anonymous · 0⤊ 0⤋
No, you only get penalized if you owe money. But if you're still within three years of the due date, you can file and get your refund.
If your refund is for the year 2005 (the one that was due this year in April) you can get the form on irs.gov - you probably just need a 1040EZ.
2006-06-30 13:59:03 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
No. Your filing must be in by the 15th. You can ask for an extension but you only have before the15th to ask.. You can extend your filing for months. If you do not send your filing in by the 15th or an extension then you will be charged interest and penalties.
2006-06-30 12:49:18 · answer #4 · answered by JoAnn O 1 · 0⤊ 0⤋
The IRS has changed it's law to allow people who have overpaid their taxes to be able to file late with an automatic extension. For people who might have to pay, they have to prepay over the estimate to make sure that they do not owe anything. If they miss guess, than they get penalized.
2006-06-30 12:40:15 · answer #5 · answered by andy 7 · 0⤊ 0⤋
you have 3 years to file if you are going to be getting a refund....
2006-06-30 12:38:25 · answer #6 · answered by Tessie 3 · 0⤊ 0⤋
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2016-11-30 01:43:03 · answer #7 · answered by ? 3 · 0⤊ 0⤋
Three years in USA without a penalty, but after 2 years you forfeit your return.
2006-06-30 12:40:50 · answer #8 · answered by Anonymous · 0⤊ 0⤋
You will be penalized but the longer you wait the more you will be penalized with. So do it now.
H&R Block has online filing of your federal tax but u will have to pay for your state taxes.
Good luck!
http://www.irs.gov
for other free filing sites
2006-06-30 12:39:42 · answer #9 · answered by Anonymous · 0⤊ 0⤋
I don't know about American taxes but in Australia (where I live) there is still a penalty
2006-06-30 12:38:51 · answer #10 · answered by Anonymous · 0⤊ 0⤋