Personal TAX?

Question

My accountant have efiled my p/tax with bank details(with sufficient bank balance ) on 4/16/07.But rejected due to a mistake in SSN # of my wife.He corrected it and resent it on 4/17/04.(Don't know it is again rejected or not).

Whaterever it might be,whether I will be liable for penality or interest? (Now Accountant says funny explanations )

Can anybody knows a correct answer.(don't write refer IRs....).If you know answer it. other don't waste our time.

Answer 1

your return is not filed until it is accepted,, but if it was sent on the 17th it is on time if it is accepted.
if it is rejected again for whatever reason,, it is not filed.

Answer 2

Find out if the second attempt at e-filing with your wife's correct SS# went through. You should be able to know immediately. If it gets rejected again, you are better off filing a regular paper return because it will just keep rejecting.
In terms of penalties and interest, it will be calculated from the due date of the tax return (April 17, 2007). If your tax return was not accepted by that date, you may incur penalty and interest charges. The penalty rate for failure to file on time is 4.5% per month (including partial months) and the interest rate is calculated monthly (including partial months) at a rate of 0.5% until the balance is paid in full.

Make sure your wife's SS# is correct and that her name is correct according to the IRS. The IRS receives name information from Social Security Administration. If your wife did not legally change her last name, she must file with her legal last name until she fixes that with Social Security Administration.

If you are unable to e- file, you should file a regular paper return and either include the check with your paper return or make a credit/debit card payment. The link below gives you more information on balance due situations along with how to make payments on a balance due account.

Answer 3

As long as it was accepted the second time, you're OK and are still on time.

If it rejected again, you might have a problem but probably not. I prepare taxes through an IRS/AARP program, and if we have a rejected return, as long as the initial filing was on time we have a few extra days to get it corrected and accepted and it's still considered on time. So you're probably fine.

I retransmitted one last night to correct a wrong ss#, and it's confirmed this morning as accepted, if that makes you worry any less. Check with your tax guy if you're still worried and ask if it's accepted now.

Answer 4

I was told that an tax e-filing is not valid until its accepted by the agency whom it was sent to. That can be 2-4 days. If you accountant goofed and input the wrong number, then he should be liable for any fines or penalties you incur if he wants to continue business with you. Good luck.