How do i know if i owe on my 2005 taxes?

Question

i didnt file my taxes for 2005 and im unsure i owe money or not, how do i find out?

Answer 1

You can do a quick calculation to see if you owe.

Add up all your income for 2005
Substract standard deduction (single $5000, MFJ $10000)
Substract personal exemption ($3200 per person)

Look up IRS tax table for 2005, it is still available online at www.irs.gov to see what your federal tax should be.

Compare the tax with your withholding to see if you owe.

If you are claiming credits or filing schedule A, it could get more complicated. I would suggest that you find someone with a 2005 version of TurboTax (or equivalent) to help you figure it out.

Best wishes.

Answer 2

Prepare and file a 2005 tax return. That's the ONLY way that you'll know. And if it turns out that you owe, get it filed and paid ASAP as penalties and interest will continue to accrue until you do!

If you have a refund coming, there won't be any penalty but you'll never see the refund until you file the return.

You can get all the forms for prior year returns at the IRS website http://www.irs.gov

Answer 3

Contact the IRS and tell them. They should send you all the right paperwork to work out what you owe (if anything). They may charge interest on money you owe them (they do in the U.K. of you're late filing your tax return and paying your income tax)

Answer 4

irs.gov