If I don't owe any money on my Federal Taxes, did I still have to file by April 17th? I am getting a refund.

Question

I was waiting on a W2 that didn't come til today. I have finished my taxes, and I'm getting a refund. Will I have a penalty when I file them?

Answer 1

Facts About Filing Tax Returns

Failure to file a return or filing late can be costly. If taxes are owed, a delay in filing may result in penalty and interest charges that could increase your tax bill by 25 percent or more.

There is no penalty for failure to file a tax return if a refund is due. But by waiting too long to file, you can lose your refund. In order to receive a refund, the return must be filed within 3 years of the due date. If you file a return, and later realize you made an error on the return, the deadline for claiming any refund due is three years after the return was filed, or two years after the tax was paid, whichever expires later.

Taxpayers who are entitled to the Earned Income Tax Credit must file a return to claim the credit even if they are not otherwise required to file. The return must be filed within 3 years of the due date in order to receive the credit.

If you are self-employed, you must file returns reporting self-employment income within three years of the due date in order to receive Social Security credits toward your retirement.

Answer 2

Coming from someone that owed formerly definite there is you are able to call and request it. they'll charge a fee for putting the plan up and also calculate an volume. in case you do not owe next 365 days they'll take the ultimate stability out from the refund and also you'd be squared away. Tax professional

Answer 3

No penalty, since you have a refund coming, but get them filed as soon as possible so you can get your money back.

Answer 4

Gregster is 100% correct.

Answer 5

I would say yes. That's why they give a dead line.