I did not file taxes for 2006. I plan to file them next year along with my other taxes...Can something bad happen to me? Any experiences? Thank you.
2007-07-12 05:11:49 · 10 answers · asked by bg4804 2 in Business & Finance ➔ Taxes ➔ United States
It would make a lot more sense to file them as soon as possible. If you have a refund coming, there's no sense waiting a whole year for it - file now and you'll get it in maybe 6 weeks. If you owe, interest and penalties will continue to accumulate until you file and pay, so if you wait until next year, you'd have to pay a lot more than if you do it now.
If you wait until next year, you'd still have to file two returns, one for each year - you can't just add it all together on one.
2007-07-12 05:23:39 · answer #1 · answered by Judy 7 · 4⤊ 1⤋
You are required to file by the due date of April 17 if you earned more than $8,450 and/or had any money withheld for federal taxes. If you are expecting a refund then is no additional penalty. But if you owe taxes, then you owe additional interest and penalties for not filing/paying on time. In either case, you just gave the IRS the right to audit ANY tax year return due to suspected fraud. They suspect it more when people do not file on time without solid reason (like medical/health problems).You need to go to a tax office and have your return done now even if you owe taxes. There are options available if you don't wait much longer. If expecting a refund, you can wait but WHY?
2007-07-12 06:05:58 · answer #2 · answered by Anonymous · 0⤊ 0⤋
You can't do that. Each tax year stands on its own and must be filed independently.
If you have a refund coming for 2006 there is no penalty for filing late. If you drag your heels for 3 years you lose the right to claim any refunds.
If you owe, you will have late filing and late payment penalties as well as interest to pay.
2007-07-12 05:30:11 · answer #3 · answered by Bostonian In MO 7 · 3⤊ 0⤋
There was once a 2d extension which you will have the skill to record, yet that became whilst the 1st extension became in elementary terms for 4 months. Now that the extension is for six months, the IRS did away with the 2d extension. so a procedures as what happens in case you pass over the October fifteenth date, you will enormously lots ought to record a paper return particularly 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 record a return and get the refund. in case you owe, your extension isn't valid and you will owe interest and effects on the tax from the unique submitting due date. ultimate advice is to get your tips mutually as quickly as available and get it to your accountant.
2016-10-21 00:15:59 · answer #4 · answered by Anonymous · 0⤊ 0⤋
You need to file those taxes NOW! If you owe money the penalties are extremely high. Even if you are owed money the late filing penalty will eat away at your return. If nothing else you need to file an extension TODAY.
2007-07-12 06:32:31 · answer #5 · answered by Robin C 5 · 0⤊ 1⤋
It depends on if you owe money or not. If you would have gotten a refund but didn't file, no big deal. If you owed money but didn't file you should expect nasty phone calls and letter from people who have the power to make your life miserable.
2007-07-12 05:44:14 · answer #6 · answered by Neka 4 · 0⤊ 1⤋
get ready for a letter from the IRS listing penalties and interest. you can't just decide to file them next year. i would call the IRS and try and explain why you didn't. whatever it is, i'm willing to be the IRS won't be forgiving.
2007-07-12 05:38:56 · answer #7 · answered by Anonymous · 0⤊ 1⤋
If you don't owe anything and you have a return coming, there should be no problem,.. However, if you do owe the IRS thats another thing entirely.
2007-07-12 05:22:29 · answer #8 · answered by Mary B 2 · 0⤊ 2⤋
If your'e an illegal immigrant or speak Spanish, you have absolutely nothing to worry about!!!
2007-07-12 05:51:00 · answer #9 · answered by Anonymous · 0⤊ 1⤋
go to jail go directly to jail...FILE THEM NOW ---or you will pay ginormous fines penaltys etc etc etc
even if you owe they will set up a payment plan...rather than put you in the hoosegow...but if you dont file them on purpose...well then GO TO JAIL GO DIRECTLY TO JAIL
2007-07-12 05:19:43 · answer #10 · answered by Jack Kerouac 6 · 1⤊ 3⤋