2007-08-10 10:47:33 · 10 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
I have never filed taxes before this and i am 24. I was told the years before that i didnt have to file. I just dont want to end up owing money.
2007-08-10 11:03:56 · update #1
go to www.irs.gov and download forms. You can't electronically file the return, it will need to be paper filed. Don't know what other forms you might need since all you have said is 8000 in income and 308 withheld.
2007-08-10 10:50:24 · answer #1 · answered by Anonymous · 0⤊ 0⤋
The IRS doesn't say this is a no-no, they just say there is a penalty "IF" you owe anything. It appears you may have a refund. Indeed, go to irs.gov and download the proper forms for 2005 or an amended return listing 2005 as your tax year at the very least..
After you complete your forms lets look at 2 scenarios. 1st let’s assume you get money back. In that case put on your happy smile and await your check. 2nd lets assume you owe the IRS money. In that case you will owe what you owe, a penalty for being late, AND interest, but the good news is they’ll also let you know how much additional you owe!
Get busy right now and judge your situation – do I file or not “IF” I owe the IRS money? Personally, I file every year and pay my taxes because I know some of the good things tax dollars support – like roads, schools, etc. However, you’re not a big fish and your chances may be better than normal that the IRS is never going to go after you for skipping 2005 because it isn’t economically justified to prosecute you (unless of course you are one of the lucky lottery winners of Audit City and get chosen among the unfortunate few). You might also note that the IRS will be asking WHY you didn’t file in the first place and look your forms over VERY carefully. However, if you have money coming back then go get it - it's yours!
Good luck with your quest.
2007-08-10 11:08:39 · answer #2 · answered by Anonymous · 0⤊ 0⤋
If you were single and not a dependent in 2005, then you owe no tax and you will get $308 refunded to you, plus some interest. You can fill out Form 1040EZ and mail it in.
http://www.irs.gov/pub/irs-prior/f1040ez--2005.pdf
If you were a dependent in 2005 (which you may have been if you were a student), then you are going to owe some tax. In fact, it will be just about your withholding, since you will be taxed on $3,000. The same form 1040EZ will be used.
Either way you need to file. You must file if you were a dependent, and you must file if you were not a dependent in order to get a refund.
2007-08-12 13:30:47 · answer #3 · answered by ninasgramma 7 · 0⤊ 0⤋
Just go to the IRS web site and download the 2005 forms. If it turns out you owe no tax there would be no interest, and if you owe no tax there will not be a penalty since that is calculated on the amount due. If you are owed a refund they may pay you interest.
2007-08-10 10:57:29 · answer #4 · answered by Anonymous · 0⤊ 0⤋
If that was all of your income and you didn't have any dependents, you can probably file a 1040EZ. Download the 1040EZ for 2005 at http://www.irs.gov/pub/irs-prior/f1040ez--2005.pdf
Instructions are at http://www.irs.gov/pub/irs-prior/i1040ez--2005.pdf
Fill out the form and mail it in - the address is in the instructions. If you weren't a dependent, you'll probably get all of your $308 refunded to you. If you were still a dependent for 2005, you might get a few dollars back.
If you have any trouble with the form, post again.
If you didn't file for 2006, you need to get that one filed too.
2007-08-10 11:38:22 · answer #5 · answered by Judy 7 · 2⤊ 0⤋
In all probability IRS owes you money on that small income. Just call IRS and tell them you need a form to file your 2005 return.Since they owe you money, I don't think you have anything to worry about. Good Luck
2007-08-14 06:17:58 · answer #6 · answered by walt631 4 · 0⤊ 0⤋
You can purchase a product such as H&R Block's "TaxCut" or "Turbotax" from prior years and use those to file your taxes...it will guide you step by step on what forms you need to fill out instead of going to www.irs.gov and filing manually. You will then need to print out and mail.
2007-08-10 15:56:23 · answer #7 · answered by ~Mommy*of*3~ 3 · 0⤊ 0⤋
YOU CAN ALWAYS DOWNLOAD THE FORMS ON THE INTERNET AND DO IT MANUALLY. YOU WILL NEED TO MAIL IN THE COMPLETED 1040 AND ALL W-2S AND SUPPORTING PAPERS. OR THE BEST BET IS TO GOEITHER TO THE IRS OFFICE IN YOUR TOWN OR SOMEWHERE LIKE H&R BLOCK. THE IRS IS FREE, BUT THE WAIT MIGHT BE LONG. THERE WILL BE A CHARGE FROM A TAX PREP COMPANY.
2007-08-10 10:57:29 · answer #8 · answered by taqstygirl 1 · 0⤊ 0⤋
Try this site.
http://www.1040.com/new1040/pdfs/2005/Federal/Forms/f1040ez.pdf
It looks like you will get a full refund IF no one can claim you.
2007-08-10 13:03:43 · answer #9 · answered by Serve 2 · 0⤊ 0⤋
Lets see.....It's 2007 and you're trying to file taxes that's from two years ago? IRS says that's a no-no
2007-08-10 10:52:27 · answer #10 · answered by civicnitro 3 · 0⤊ 5⤋