will the federal taxes be took out this year when I file again or will I not be able to do my taxes if I still owe federal?
2007-09-12 06:30:04 · 6 answers · asked by Rose 2 in Business & Finance ➔ Taxes ➔ United States
I only owe $130.00 to Federal.
2007-09-12 07:44:12 · update #1
Would H&R Block be able to help since I filed with them last year with finding out the balance that is now due since of these charges...does anybody know how much they charge because it was only around $130.00 that I owed this year and I should be at least getting $3,000 back for next year.
2007-09-12 07:56:01 · update #2
I/M SORRY EVERONE I MEANT THAT I OWE THIS YEAR AND WHEN I FILE FOR 08' WHAT WILL HAPPEN...
2007-09-12 07:57:46 · update #3
Girl, you are in a panic.... Stop, take a deep breath.
So, when you file this year, you will be doing your '07 tax year, when you do these, you check that you do owe back taxes and if you have a refund coming, they will deduct it from that...
If you owe again, I would recommend www.irs.gov, individual, withholding calculator and get your withholding closer so you won't owe...you will need to pay your tax person up front, so they are sure to be paid...
You are gaining interest daily, but on a small amount, it won't destroy you, always file - even if you are unable to pay!
2007-09-12 09:10:10 · answer #1 · answered by Wood Smoke ~ Free2Bme! 6 · 0⤊ 1⤋
Each year stands on it's own. If you owe for 2007 and have not paid for 2006 you will owe for both years. If you are owed a refund for 2007 when you file, and you have not paid 2006 yet, the IRS will (should) take the refund and apply it against the balance that you owe for 2006. You will get a letter from them indicating they have done this. They will also be able to claim against any state refunds that you are owed as well.
2007-09-12 07:42:48 · answer #2 · answered by Anonymous · 1⤊ 0⤋
They are charging you interest and penalties for not paying your taxes when they are due.
You are always able to send in a return for taxes, and they will keep adding the taxes, interest and penalties to the amounts due.
Then they can contact you for a mandatory appointment. They can attach a lien against what you own.
Eventually then can take you court, and a judge may put you in jail. Tax evasion is considered a crime.
Many employers can fire you for tax evasion or just getting in trouble with the IRS because they don't want to be involved with potential IRS problems. Always remember that an employer can fire you for anything that they consider illegal.
Sorry to be so blunt, but I wanted to let you know the truth.
GOD bless us always.
MBA-Boston Univ.
CPA-retired
2007-09-12 07:35:04 · answer #3 · answered by May I help You? 6 · 0⤊ 0⤋
You definitely should file taxes, even if you owe again this year and don't pay. There are fines for not filing.
If you have a refund coming this year, IRS will apply it to last years outstanding taxes.
IRS will work with you on a payment plan. Unpaid taxes are accruing interest.
2007-09-12 06:36:42 · answer #4 · answered by bdancer222 7 · 2⤊ 1⤋
For payment of $130, do not request an installment agreement. It will be too much trouble for IRS to bother with, just make reasonable payments. If you have a refund for 2007, it will be applied to what you owe.
2007-09-12 09:01:52 · answer #5 · answered by Anonymous · 1⤊ 0⤋
The government is charging you interest every day on the money you owe them. If next year you are due a refund, the government will keep it and apply to your debt.
2007-09-12 07:21:14 · answer #6 · answered by patrick 6 · 1⤊ 1⤋