I didn't file my federal income taxes last year and I owed about $300. This year, I plan on filing (it's not too late!) and this time Uncle Sam owes me over $400. Can I just file both at the same time and hope they send me the difference as a refund, minus the penalties? Any advice would be much appreciated. Thanks!
2007-04-11 07:21:53 · 9 answers · asked by Marketingbabe 2 in Business & Finance ➔ Taxes ➔ United States
It's never too late!!! Uncle Sam will take your paperwork whenever you want to give it to them...It's just that after April 15, they'll start applying penalties! :-)
You can certainly file both at the same time, but I highly recommend that you send them in separate envelopes...It might be confusing at their end to get both together, and they may need to be processed by different departments. Often, they process refunds quickly, so they might even send that before they realize you have a back-bill. I'd recommend not cashing the check until you get confirmation from them about what you owe from last year.
I know from personal experience that the IRS will take what's owed from your refund, as long as they know about what you owe...They just took what I owed from 2003 out of my 2006 refund.
2007-04-11 07:33:25 · answer #1 · answered by abfabmom1 7 · 0⤊ 1⤋
You can file them at the same time, but you will suffer penalties and interest on the $300 you owe. You will have to pay that when you file the taxes and will have to wait to get your other refund. The IRS will not allow one to wash the other one. You very well may owe a good deal more than the $400 you are expecting. You may want to call the IRS to get more information, they have specialists who are there to help you through these sorts of things and they can tell you what the accumulated interest and penalties will be on last years owed taxes.
2007-04-11 07:32:29 · answer #2 · answered by Christopher L 3 · 0⤊ 1⤋
each and every tax year isn't comparable to all others. it is why the year is pre-printed on the precise of the style 1040. 2008 earnings receives stated on a 2008 type, 2009 earnings is recommended on a 2009 type, etc. it fairly is terrific to report each year as quickly as achievable. to that end which ability the 2008 tax return could be filed as quickly as achievable. you may mail the return because of the fact e-submitting ended on October 15, 2009 for 2008 returns. i desire this enables. Gary
2016-12-20 11:46:22 · answer #3 · answered by ? 4 · 0⤊ 0⤋
You have to file them separately, on the forms for the proper year. The 2005 return will have to be mailed, and you'll have to send a check for what you owe, and get your refund separately for 2006.
2007-04-11 07:46:35 · answer #4 · answered by Judy 7 · 1⤊ 0⤋
You should be able to file both returns still, I'd talk to an accountant for details to make sure you are covered.
2007-04-11 07:24:58 · answer #5 · answered by ShadowASL 2 · 0⤊ 0⤋
You will have to pay a penalty, you might also get audited!
Good luck!
2007-04-11 07:31:25 · answer #6 · answered by Richard C 2 · 0⤊ 0⤋
Absolutely!
2007-04-11 07:24:23 · answer #7 · answered by m_c_m_a_n 4 · 0⤊ 3⤋
yes you can i filed my daugthers last year and this year taxes together.
2007-04-11 07:33:10 · answer #8 · answered by b354tt 2 · 0⤊ 0⤋
i think so you still have till april 17th to do it
2007-04-11 07:24:56 · answer #9 · answered by Anonymous · 0⤊ 2⤋