2007-04-17 07:21:57 · 12 answers · asked by amstotts6850 2 in Business & Finance ➔ Taxes ➔ United States
Yes, unless you file for an extension.
2007-04-17 07:24:46 · answer #1 · answered by Anonymous · 0⤊ 1⤋
Yes all tax filings are due on 4/17 whether you get a refund or have to pay. File an extension, you still have time.
2007-04-17 07:27:48 · answer #2 · answered by Anonymous · 0⤊ 1⤋
Although there are no penalties for late filing if you have a refund coming it's not wise to file late. This is especially true if you have a large amount of income not subject to withholding, especially involving stock transactions, since the IRS does not have the full details on those transactions.
Additionally you wouldn't be the first taxpayer who was "sure" that they were getting a refund only to discover that they actually had to pay and now had penalties for late filing as well as penalties and interest for late payment of their taxes.
2007-04-17 07:27:43 · answer #3 · answered by Bostonian In MO 7 · 1⤊ 1⤋
No.
You don't have to file an extension either if you are due a refund.
Generally, if a taxpayer is due a refund for withholding or estimated taxes paid, it must be claimed within 3 years of the return due date or risk losing the right to it. The same rule applies to a right to claim a tax credit such as the Earned Income Credit (EIC).
2007-04-17 07:36:00 · answer #4 · answered by Anonymous · 0⤊ 1⤋
By law you are required to file by April 17th, regardless of your status. In practice, if you are due a refund and file within 3 years of the due date, there has been no penalty. That said - the government is collecting your interest while they are hanging on to your money, so sooner is better than later. If you wish to protect yourself, file for an automatic extension till mid-August (don't foget to file a state extension, too, if applicable). Forms are available at the included link.
2007-04-17 07:27:36 · answer #5 · answered by KN 2 · 2⤊ 1⤋
Yes. Most people who are expecting refund file early while many who owe wait until today.
2007-04-17 07:24:32 · answer #6 · answered by Amy V 4 · 1⤊ 0⤋
Yes, IRS says you need to file income tax return OR extension by due date irrespective of you owe money or not.
But then there is no penalty or interest fees if you are getting a refund and filing after deadline. This is strange, but true.
- Infoman
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Not a legal advice.
2007-04-17 07:42:48 · answer #7 · answered by www.TheUseFulInfo.com 2 · 1⤊ 2⤋
You do not have to file your taxes by 4/17 - but you do need to file an extension
(Form 4868 - go to irs.gov, and download it).
Then you'll have until October 15th to file your tax return.
2007-04-17 07:27:09 · answer #8 · answered by bold4bs 4 · 1⤊ 2⤋
Yes, either file or get extension.
2007-04-17 07:25:27 · answer #9 · answered by Jimfix 5 · 0⤊ 1⤋
No. There is no penalty unless you owe money. You actually have 3 years. This is a big secret that the IRS never mentions. The IRS always indicates that you must file by a specific date but all penalties are based on what you owe. I have never been able to find a statement on the IRS site about the legality of filing late. You have paid your taxes as required.
If there is a specific law indicating penalties please point it out to me.
2007-04-17 07:24:42 · answer #10 · answered by Barkley Hound 7 · 0⤊ 5⤋