I hope someone has some idea on this. I didn't file my taxes for 2006, because I didn't think I made enough where it mattered. I applied for financial aid, and with the amount of money I made last year I SHOULD have filed, but didn't...and now it's way past the deadline in April, obviously. And now my college is requesting for me to file my taxes before financial aid can be granted, but I'm past the deadline. What should I do in this situation? Any help would be much appreciated!
2007-08-28 14:06:45 · 2 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Go ahead and file as soon as possible. If you have a refund coming, there won't be any penalty for being late - if you owe, there will be a penalty for being late, plus also interest, but it won't get any better if you wait longer. Lots of people file late, you aren't the only one. Just get it done.
2007-08-28 14:14:38 · answer #1 · answered by Judy 7 · 4⤊ 0⤋
File anyway. It'll make things easier when you apply for the FAFSA since the FAFSA instructions already ask you which lines of the tax return they want the information from. Also by filing a tax return, the school has a way of verifying your finances if they request a transcript from IRS (with your permission). Also as mentioned, you can get your refund back if you overpaid. If you didn't pay enough, then you can structure a deal w/ IRS.
2007-08-29 09:56:02 · answer #2 · answered by Omar B 2 · 0⤊ 0⤋