HELP ME irs tax question??????

Question

ok what happens when u miss one year on filing your taxes??? ok i know its a dumb question but go figure right, what happens if i file after the 15th, but they give u until the 17th now, but like i miss the dead line..they will still except me to file right...than i know im going to be getting penaties, but i dont owe them nothing now, and i haven't ever before..im just going to be later this year..i cant do an extension, so will the irs work with me and let me file late and than setup a payment plan with me if i owe any money??? PLEASE HELP ME IM SO FREAKN LOST....

Answer 1

Don't panic, the world isn't ending. You can work this out.

If you file after the deadline of Tuesday, April 17, then if you have a refund coming, nothing will happen and you'll get your refund as long as you file within the next 3 years - and there won't be any penalties or interest charged. If you owe, then yes you'll owe interest and penalties, but you'll have a lot of company doing the same thing - they're not going to shoot you or jail you or something. Yes, they'll work out a payment plan for you - be sure to follow it.

Why can't you do an extension? It's not that hard - see http://www.irs.gov/pub/irs-pdf/f4868.pdf?portlet=3

An extension just gives an extension to file, not to pay - you'd still be liable for the late payment penalties and interest, but if you file late and don't apply for an extension, you'll also have a late filing penalty. Unless you owe a ton, we're not talking a huge amount of money here for a late filing penalty, but why pay something you don't have to?

Good luck.

File as soon as you can, and pay what you can with the filing if you owe. They'll accept your filing. They'll notify you about what you still owe, or you can call them to set up payments.

Answer 2

Today is April 14th. You have until April 17th to file. Why can't you file on time? You are expected to file your return or request an extension. If you owe taxes when you request an extension, you should pay those taxes. (A question we always ask is, if you request an extension because you need more time, how will you know if you need to pay or if you get a refund? --catch 22). If you are due a refund when you pay late, I don't think the IRS takes some of the money for a late filing penalty so the punishment won't be too bad.

We think the IRS is as broken as the illegal immigrants claim our immigration laws are. The IRS won't work with ICE and won't ensure that the laws of the land are upheld -- making them a government over the citizens that is completely independent of the government that lords over us all. IRS should be abolished and a sales tax should take its place because then everyone would pay equally, regardless of their status.

Answer 3

Getting a "pennies on the greenback" deal demands which you purely have the skill to pay that plenty over a smart volume of time. the certainty which you will finally end up owing extra in penalty and interest than the unique tax is irrelevant. in case you owe decrease than $25,000 and might pay it interior 5 years, IRS is going to choose you to do only that. The "As seen on television" determination companies classified ads are pushing can provide in Compromise. once you compromise for much less than100 cents for each greenback you owe and IRS forgives something. it is going to do this if it determines you're offering as plenty or extra because it may assemble from you with the aid of month-to-month money or seizing your belongings. the quantity you are able to desire to pay is, to apply the IRS jargon, is "an volume that represents the smart sequence ability of the account." that's a lump sum equivalent to what you may get from the fairness in all your sources in the event that they have been offered at a rapid sale, regularly 80% plus 40 8 circumstances what you will pay month-to-month on an installment settlement. for example, in case you had a motor vehicle worth $10,000 and owed $5,000 on it and not something and IRS reported you are able to make money to IRS of $one hundred consistent with month you will possibly might desire to grant 80% of $10,000 minus the $5,000 owed = $3,000 PLUS 40 8 circumstances $one hundred = $4,800 for a entire lump sum fee of $7,800 on even if you truthfully owed. I have been given an grant for a customer who owed 1 / 4 million greenback criminal duty commonly used at a million cent on the greenback. Many different clientele have not qualified and others can arise with what it would take in the event that they did qualify. yet another determination might artwork extra powerful for you including convincing IRS that the account isn't collectible in any respect ideal now. in case you opt for to hire a expert representative--enrolled agent, CPA or criminal expert--stay faraway from those that publicize on cable television. I had one ability customer tell me he replaced into quoted a cost of $3,900, an volume triple what i might have charged, and he purely owed $6,000.

Answer 4

I think if u don't owe u should'nt have penalties if u didn't fie or file on time. The deadline is for those who owe money.