2007-04-09 10:12:03 · 15 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ Other - Taxes
will there be any penalities to pay for not filing the previous years?
2007-04-10 07:10:10 · update #1
he said he doesn't file because he owes child support and they would get his refund anyway. Shouldn't he still be filing taxes?
2007-04-16 10:54:24 · update #2
Interesting Question
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2007-04-11 08:32:01 · answer #1 · answered by fitzovich 7 · 0⤊ 0⤋
Well, at Jackson Hewitt we have this happen a lot. The customer has to come in during normal business hours so that we can call the IRS who will fax over their income information so that we can begin the process. The current year can be filed electronically on time. 2005, and 2004 they can def get a refund if one is due. The deadline for requesting a refund for 2003 expired today....they might let you slide a day or two but I doubt it. The other prior year returns can be filed but they do have to issue a refund. If however they have said that you owe and/or assigned tax liability to you, by actually filing the return you might zero the balance they had assessed to you.
2007-04-15 18:17:08 · answer #2 · answered by WitchTwo 6 · 0⤊ 0⤋
The real question is whether you owe any taxes over the last five years. In the last 46 returns I've filed I have only had to dig into my pocket to pay the government twice. That is because they had taken more out of my paycheck than I had owed them at the end of the year. If this is you than there are no penalties. If you had overpaid contact the IRS about getting the correct forms so you can receive your refund.
If you in fact owe them money you should contact an attorney who specializes in IRS tax matters.
2007-04-15 23:55:21 · answer #3 · answered by RCjr 2 · 0⤊ 0⤋
Just fill up the form and file them at the internal revenue office. When filing your failure to file for 5 years will go unnoticed, but after that day the internal revenue people will began to check and audit your income tax return and there they will see in the computer that you had failed to file for 5 years and be ready to receive a letter from them asking you why? You should have a valid reason for not filing your tax or else you will be branded as tax evaders.
Filing of our taxes is a duty of every citizen in any country. We may find that taxes are so expensive but then the benefits of our filing of taxes will be seen and felt upon our retirement from working. Filing of our taxes also helps in the growth of our country so we must always file our taxes religiously.
Have a happy tax day!
2007-04-16 02:06:25 · answer #4 · answered by yolanda o 2 · 0⤊ 0⤋
The first thing to consider is Tax Year 2003. It should have been filed by April 15, 2004.
IF you were due a refund for that year, the penalties are much less than if you owed $$.
You have only three years to claim that refund, (no matter how it gets applied).
That means postmarked by tomorrow night. It's what I am doing, and I'd better get back to it. GL.
2007-04-15 08:11:41 · answer #5 · answered by and_y_knot 6 · 0⤊ 0⤋
That depends on if you have earned income from the last 5 years. If you don't then just file normally. If you had earned income in the last 5 years your best bet would be to contact the IRS and they will help you thru the correct procedure. Do not be afraid of the IRS. They really will help you. If you owe them they will set up a payment plan that is based on your income. If you can't pay what they want just keep negotiating.
2007-04-09 17:29:36 · answer #6 · answered by Anonymous · 1⤊ 0⤋
call the tax company and have them run through your data base. You should have some record of some sort. If your file has been inclosed open a new file for a common file. This way you may access your account anytime. If you have any troubles with money isues. Then ask a consultant to help you with rerunning a new file.
2007-04-16 19:43:29 · answer #7 · answered by wondersax 2 · 0⤊ 0⤋
very carefully....just joking. Truthfully - if you did not have enough to file for, then don't worry. If you lived out of the country, look to a CPA for help in making sure that you did not underreport. A CPA can also file various amendments.
If you live in a city (like San Antonio, TX) that has a branch of the IRS and allows walk-ins, go to them directly for help, otherwise, a CPA is the best route since they can answer any questions to the IRS on your behalf... The important point: you were not trying to avoid paying taxes...
2007-04-16 11:25:03 · answer #8 · answered by Eduardo M 1 · 0⤊ 0⤋
If you haven't filed in five years you probably would pay more to file them then you would in refunds and/or your on drugs.
2007-04-14 23:42:42 · answer #9 · answered by Robert M 2 · 0⤊ 0⤋
Don,t worry you not filed in 5 years why worry now.file taxes.
2007-04-16 22:13:26 · answer #10 · answered by jackie 6 · 0⤊ 0⤋