2007-04-20 18:13:40 · 7 answers · asked by Weezy 1 in Business & Finance ➔ Taxes ➔ United States
It depends on if you owe or refund. If you are to receive a refund you will just get a notice. But if you do owe taxes, you will suffer penatlites and they can range from 5% - 25% of the original amount due. However, in certain circumstances you can ask for tax amnesty.
Also, in regards to filing an extension you needed to do that on or before April 17th (however MN was the only state that did not recognize April 16th's holiday in D.C.). So it is too late to file for an extension as that you are still going to receive a penalty (that is if you owe) for not filing either an extension or return. But if you were part of TurboTax's trouble with filing on April 17th your extension/return was only extended until April 19th.
2007-04-20 18:19:18 · answer #1 · answered by mailjunkie123 3 · 1⤊ 0⤋
There was once a 2d extension which you would be able to desire to document, yet that grew to become into whilst the 1st extension grew to become into basically for 4 months. Now that the extension is for 6 months, the IRS did away with the 2d extension. so some distance as what occurs in case you permit out the October fifteenth date, you will fantastically plenty could document a paper return as a substitute of e-submitting. different than that, in case you have a refund coming to you, you have 3 years from the due date (or 3 years from an extension in case you filed one) to document a return and get the refund. in case you owe, your extension isn't valid and you will owe activity and outcomes on the tax from the unique submitting due date. superb suggestion is to get your guidance at the same time as quickly as feasible and get it on your accountant.
2016-10-13 02:24:12 · answer #2 · answered by Anonymous · 0⤊ 0⤋
File your paperwork as soon as possible. Make payment, they will contact you if you need to send more for a penalty. If you are owed money, you will receive it. If you still need time, file for an extension as soon as possible. With an extension you are expected to make approximate payment at least. Pay what you can, if you can't pay anything you will be contacted when you file your final paperwork about penalties.
2007-04-20 18:19:59 · answer #3 · answered by Anonymous · 0⤊ 1⤋
If you owe, you'll be charged interest and a penalty. Eventually you'll get a letter from the IRS, but that could take months.
If you have a refund coming, nothing will happen and you'll get your refund, and there won't be any penalty.
2007-04-20 18:21:08 · answer #4 · answered by Judy 7 · 1⤊ 0⤋
You will get a notice from IRS in 45 days
2007-04-20 18:16:22 · answer #5 · answered by Chicken B 2 · 0⤊ 0⤋
You can file an extension an they will send you a rude toned letter saying they got it
2007-04-20 18:17:16 · answer #6 · answered by jigadee 4 · 0⤊ 1⤋
You have to pay penalties. Eventually, you would risk prison (if you evade taxes for years)
2007-04-20 18:16:43 · answer #7 · answered by Bill W 【ツ】 6 · 0⤊ 2⤋