I haven't filed my taxes yet how much trouble am I in?

1 ⤊

I haven't filed my taxes yet how much trouble am I in?

2007-05-21 13:40:42 · 2 answers · asked by Korey K 2 in Business & Finance ➔ Taxes ➔ United States

As of 05/21/2007

2007-05-21 13:41:13 · update #1

2 answers

How much of a problem this will be depends on the nature of your return. If you are due a refund there will be no particular consequences of filing late. If on the other hand you owe money you are subject to both a penalty and interest on the amount due.

2007-05-21 15:06:24 · answer #1 · answered by ? 6 · 0⤊ 0⤋

Not much trouble, but file as soon as you can. If you have a refund coming you'll get it and there won't be any penalty. If you owe, there will be a penalty and interest in addition to whatever tax you owe.

2007-05-21 20:54:17 · answer #2 · answered by Judy 7 · 1⤊ 0⤋