Do I have to file an extension if the Fed and State owes me money? Do I have to submit taxes today?

Answer 1

For your Federal return, not if you have a refund due. It is a technical violation of the law but there is no penalty if you don't owe anything. If you have any income not subject to withholding or any capital gains to report you should file an extension to keep the IRS off of your back since they may presume far more income than you actually have and try to assess penalties and interest even though none are due.

For your State return it may be different. At least one state -- Ohio -- assesses a penalty for late filing even when a refund is due. It's $500 in Ohio's case! Other states may have similar laws so check with your state tax authorities to see what your state does.

Answer 2

What is stopping you from getting them done? You have had 3 1/2 months, talk about procrastination. Doesnt sound like you have too complicated taxes if both state and federal owe you money. Just get off your hiney and get them done!!! It only took me 20 minutes to get mine done and I had my money back before the end of January.

Answer 3

you may record your 2005 VA return ASAP. in spite of the reality that the federal government does not verify a penalty for late submitting if there's a reimbursement due, some states DO verify late submitting outcomes even while a reimbursement is due. OH is a sturdy occasion of one that does; they verify a flat $500 penalty for late submitting in spite of if a reimbursement is due. i do no longer remember if VA assesses certainly one of those penalty yet you may no longer postpone in putting issues appropriate.

Answer 4

yes u have to file extension, u do not have to file return. it is automatic extension for 6 months.

Answer 5

you can file an extention.