ok, i just filed my 06 taxes, i owe the feds 1700.00, i havent filed for 05 yet and i owe about same,wat2do?

Answer 1

Get this years taken care of and as quickly as possible send in 2005's with your tax payment. They will figure your penalty and interest and send you a bill.

Failure to file is up to a 100% penalty and you keep getting them every day you don't file. Take care of it soon.

Answer 2

As much as you want to ignore it and hope it just goes away, unfortunately it won't and you have to deal with it. Contact the IRS and set up a payment plan. They will really, really stick it to you with interest and penalties, but you really have no choice.

Suggestion:: See how much the interest & added penalties will be, then check the interest on a personal loan from your bank. If you have decent credit, you may be able to get away cheaper by paying the bank back instead of the IRS. Either way, they've got you by the....well, they've got you. Sucky situation.

Answer 3

If you can pay this year's by today, do it - that will save you interest and penalties. If you can't, call them to set up a payment plan.

File your 2005 as soon as you can. Interest and penalties are adding up every month. If you file, at least the failure to file penalties won't increase beyond what they already are, although interest and other penalties will continue to accumulate.

Answer 4

the bright date optimal human beings can rfile for 2005 is 4/15/2009. Get cracking. you need to use IRS type 4506-T to request copies of the federal guidance on the W-2s from the IRS. It won't have state or community guidance.

Answer 5

Come clean. Work out a payment plan. I did that before a couple of times. It's okay. you tell them how much you can afford to pay and the only down side is interest.

Answer 6

Set up a monthly payment plan with them.

Answer 7

File your returns and set up a payment plan. It's all that you can do.

Answer 8

PAY UP.