2007-06-01 07:12:49 · 7 answers · asked by hednrs1 2 in Business & Finance ➔ Taxes ➔ United States
Tax returns, not filed or extended by April 15th, are late. You can still file, and should file, the return even if it is late. The IRS will accept any return filed, at any time, even if its late. They will not pay any refunds due on returns filed after 3 years. However, the will collect any tax due regardless of how late it's filed. There are amnesty programs available, but that's another subject.
2007-06-01 07:18:20 · answer #1 · answered by BS 3 · 2⤊ 0⤋
There is no time limit after which you can't file taxes. If you owe, interest and penalties have been accumulating since April 17. If you are due a refund, you lose the right to claim it 3 years after the return was due. No law prohibits you from filing a return from 20 years ago. The statute of limitations for an audit never starts if you never file.
2007-06-01 21:41:09 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋
Tax returns were due on April 17 this year. If the person hasn't filed yet, they need to do so as soon as possible - they're already late.
If they owe, there will be penalties in addition to the original amount of tax due plus interest on it. If they have a refund coming, there won't be any penalties and they'll still get their refund.
2007-06-01 23:36:30 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
It is extremely easy to get an extension of time to file until August 15 by simply filing Form 4868 prior to the filing deadline. No excuse is required. If you are not done by August 15, you can get ANOTHER extension by filing a request, but this time they want an excuse.
As well, if a refund is due and no taxes are owed, one may file without penalty of any sort up to three years past the original due date of the return in question.
2007-06-01 15:25:20 · answer #4 · answered by acermill 7 · 0⤊ 1⤋
if you are getting a refund there is no deadline, you have already paid taxes out of each paycheck and you will get back the amount you were over-charged.
If your employer didn't take out enough (like if you ended up with less deductions than you thought) and you owe tax, you must either pay or file an extension by april 17th (normally april 15th, extended this year because of a weekend and holiday). The extension will cost you some extra fees and not doing anything will get you in more trouble, costing even more money,
If you are getting a refund, don't sweat it, just send in the forms asap and you should get your money with no problems or fees. no extra forms are needed.
2007-06-01 14:19:16 · answer #5 · answered by Anonymous · 0⤊ 2⤋
Are you worried for them? Eventually the IRS will catch up with them. Encourage the person to get the taxes done.
2007-06-01 14:16:11 · answer #6 · answered by hirebookkeeper 6 · 0⤊ 0⤋
In the US they must file by April 17th 2007 or face penalties.
2007-06-01 14:15:42 · answer #7 · answered by Sane 6 · 0⤊ 1⤋