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Subject Author Date
Late filing? ? ? Ray 04-03-2007
|--> Re: Late filing? Frederick Lorca04-03-2007
Posted by Ray on April 3, 2007, 2:07 am
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I just started to file our 1120-H tax return for our housing
coop and to my chagrin discovered that it was supposed to be
filed on March 15, not April 15 as personal income taxes are
due to be filed.

We never pay any taxes - income is always offset by expenses.

What should I do?

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Posted by Frederick Lorca on April 3, 2007, 7:04 pm
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> I just started to file our 1120-H tax return for our housing
> coop and to my chagrin discovered that it was supposed to be
> filed on March 15, not April 15 as personal income taxes are
> due to be filed.
>
> We never pay any taxes - income is always offset by expenses.
>
> What should I do?

Just go ahead and file it. If there is no tax due you won't
be penalized or charged any interest.

Frederick Lorca

<< ======================================================= >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ======================================================= >>

Posted by Shyster1040 on April 3, 2007, 7:23 pm
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File it as soon as possible, if you're more than 60 days
late, you will owe a late filing penalty of $100 even if the
return doesn't reflect any tax liability. See Code Sec.
6651(a)(flush language).

<< ======================================================= >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ======================================================= >>

Posted by Herb Smith on April 3, 2007, 7:23 pm
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> I just started to file our 1120-H tax return for our housing
> coop and to my chagrin discovered that it was supposed to be
> filed on March 15, not April 15 as personal income taxes are
> due to be filed.
>
> We never pay any taxes - income is always offset by expenses.
>
> What should I do?

File the return

<< ======================================================= >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ======================================================= >>

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