I am 24 yrs old, have worked in 5 states, and have never filed my taxes. With all the moving I have done, I haven't always been around to collect W-2's... and then all the change of addresses never filed. Needless to say, I was thinking about filing... can I file in lump for the last 6 yrs? Is it worth it concidering that I only worked 3-4 months per year on any given year... some years 6-7 months. Any advice?
2007-01-12 21:54:55 · 8 answers · asked by Richard B 1 in Business & Finance ➔ Taxes ➔ United States
I had this same problem with California and Alaska. Federal taxes is different, but what I found is that when I skipped town, and tried to pay AK taxes, california still had taxes waiting for me, but i didnt pay them. Nothing happened. What I recommend is that if you havent filed and nobody has said anything, dont file until you have a real work history like 6 months or more. Usually if you make less then 4K a year you are not required to file. If you want to file now, just wait and see what they bill you for, no sense in looking for ways to pay uncle sam more. If you bring that up they will hand you fines and penalties for not paying. Sometimes its better to let a sleeping dog lay.
2007-01-12 22:05:55 · answer #1 · answered by Anonymous · 0⤊ 2⤋
Had to deal with this a lot when I worked with Social Security since taxes were pertinent to acquiring credits for Social Security entitlement.
Under IRS law, you can file back returns for 3 years, 4 months & 15 days. So you could now file for taxes for 2003 thru 2006. Your wages are already on IRS & Social Security records. Its possible that you are owed refunds. I'm not sure if there will be any fines for late filing but I'm guessing there wouldn't be if a refund is due. I would suggest that you go into your nearest IRS office; don't call the toll free #. Call your 2006 employers to give them your current address so they can send you last yrs W2 forms, then file your return timely.
2007-01-12 23:02:40 · answer #2 · answered by Judith 6 · 0⤊ 0⤋
Paying and filing taxes is a legal issue so I wouldn't advise that you just file six years worth of federal, state and/or city taxes without some kind of plan or education in what you're doing. By now, you will be responsible for some heavy penalties and interests to each jurisdiction unless the IRS could grant you some kind of amnesty. You would be much better off getting the IRS on your side and let them guide you through the process but you'd better have all of your W2s for the past six years, any 1099s for interest income, and an excuse better than "I moved around alot." Your situation may require the aid of an attorney to settle your tax liabilities as those late fees, penalties and interest hit. An audit would go back seven years so you're better off with a voluntary audit than waiting to be audited.
2007-01-12 22:52:09 · answer #3 · answered by Anonymous · 0⤊ 1⤋
Yes, file all of them in a lump. It's better to file late, than never file at all. You're lucky they've never decided to audit you.
Anyway, if you earned very little cash during those few months on the different years, the goverment might actually owe you tax refunds. If you owe them money, you'll have to pay what you owe plus interest; if you don't pay them within the specified time they give you to pay your tax debt, they might even audit you, which could be worse.
Perhaps they owe you lotsa cash, perhaps you owe the IRS some cash, you'll never know until you file. Don't put it off. You will have to file taxes at some point in your life as long as you are a US citizen.
I would recommend that you consult a tax accountant or tax agent to help you with doing your taxes.
2007-01-12 22:08:03 · answer #4 · answered by Muga Wa Kabbz 5 · 1⤊ 0⤋
No, you can't file one return to cover multiple years. To file, you'd have to file for each year separately.
If you only worked a few months of each year, it's possible that you were not required to file. This year, if you made under $8450, you would not be required to file. If you had federal income taxes deducted though, you might have had a refund coming, and if you didn't file, you don't get your refund. You can still file now for three years back (back to 2003 until 4/15/07) and still get the refunds - anything older than that is lost.
2007-01-13 01:36:42 · answer #5 · answered by Judy 7 · 1⤊ 0⤋
Judy is correct, you can go to IRS to get free advise on your situation, get the forms you need AND they can give you print out showing what your employers reported as income & taxes withheld - the info you need to prepare your tax return. If you were self employed the situation is different. If you OWE tax, as opposed to having a refund due you, then you have to file all yrs that you missed, i.e. there is no 3 rule for any year that you owe on. If you owe and can't pay it all talk to IRS about making payments or an offer in compromise may also be possible. welcome to the real world.
2007-01-13 05:48:40 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Yes start ASAP collecting all the forms and info you need also get a tax lawyer or contact the IRS it is against the law not to file your taxes .you don't say how long it has been since you started working.but believe me they (the IRS) do you can be fined and maybe go to jail. but if you really want to start of with a clean slate start with contacting all your former employers and go from there and good luck
2007-01-12 22:11:38 · answer #7 · answered by shawns bonnie 4 · 0⤊ 0⤋
first of all how much money did you make in the years in question????? This year its $5130 minimum. If you are below that you do not need to file. Before that it was lower but not that much. the months where it was 3-4 chances are you were well under the minimum and it wouldn't of mattered. the 6-7 maybe again it depends on how much you made.
2007-01-13 02:03:04 · answer #8 · answered by Anonymous · 0⤊ 1⤋