|
Posted by Brian on April 24, 2008, 10:25 am
Please log in for more thread options
I just realized tonight that I did not sign and return my tax
documents to my tax preparer to file with the IRS by the 15th. I plan
to fax the document to my tax preparer tomorrow (4/24). I was
expecting a $3500 refund from federal and a $800 refund from the State
of Iowa. What type of penalty should I expect for filing late?
Thanks,
Brian
--
<< ------------------------------------------------------- >>
<< 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 (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
|
|
Posted by Arthur Kamlet on April 24, 2008, 11:18 am
Please log in for more thread options
>I just realized tonight that I did not sign and return my tax
>documents to my tax preparer to file with the IRS by the 15th. I plan
>to fax the document to my tax preparer tomorrow (4/24). I was
>expecting a $3500 refund from federal and a $800 refund from the State
>of Iowa. What type of penalty should I expect for filing late?
In general the penalty is based on how much tax you still owe.
Since there is a refund, I would not expect any penalty.
--
ArtKamlet at a o l dot c o m Columbus OH K2PZH
--
<< ------------------------------------------------------- >>
<< 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 (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
|
|
Posted by Haskel LaPort on April 24, 2008, 12:57 pm
Please log in for more thread options
>I just realized tonight that I did not sign and return my tax
> documents to my tax preparer to file with the IRS by the 15th. I plan
> to fax the document to my tax preparer tomorrow (4/24). I was
> expecting a $3500 refund from federal and a $800 refund from the State
> of Iowa. What type of penalty should I expect for filing late?
None, you are getting refunds. Take all the time you need.
>
> Thanks,
>
> Brian
--
<< ------------------------------------------------------- >>
<< 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 (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
|
|
Posted by Paultry on April 24, 2008, 6:20 pm
Please log in for more thread options Haskel LaPort wrote:
>
What type of penalty should I expect for filing late?
>
> None, you are getting refunds. Take all the time you need.
But if an audit later shows tax due, late filing penalty
will apply, accruing at 5% per month on 04/16,
05/16...08/16. So get it filed by 05/15 to avoid any
additional potential penalty.
--
<< ------------------------------------------------------- >>
<< 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 (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
|
|
Posted by PeterL on April 24, 2008, 12:58 pm
Please log in for more thread options > I just realized tonight that I did not sign and return my tax
> documents to my tax preparer to file with the IRS by the 15th. I plan
> to fax the document to my tax preparer tomorrow (4/24). I was
> expecting a $3500 refund from federal and a $800 refund from the State
> of Iowa. What type of penalty should I expect for filing late?
>
> Thanks,
>
> Brian
>
They are using $4,000 of your money interest free, and you think they
are still going to fine you? I personally would expect a thank you
letter.
--
<< ------------------------------------------------------- >>
<< 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 (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
|
| Similar Threads | Posted | | penalty when filing on time versus when filing for an extension | May 8, 2008, 1:21 am |
| another late filing of TD F 90-22.1 | February 2, 2007, 7:17 pm |
| Late filing? ? ? | April 3, 2007, 2:07 am |
| f8832, Late Filing Election | August 8, 2007, 7:08 pm |
| Question about Late Filing, federal/state | May 7, 2008, 2:25 pm |
| Penalty on Non-Profit Filing | March 26, 2007, 11:16 am |
| Filing Late - What is quckest way to get 2006 return into the system | May 16, 2008, 9:07 am |
| Paying late taxes while living abroad | January 30, 2008, 12:10 pm |
| Any harm to paying Estimated Taxes a little late? | April 4, 2008, 7:44 am |
| Minimum income for NYS filing... | March 17, 2008, 7:56 am |
|
|
Yahoo! 
Google 
Windows Live 
del.icio.us 
digg 
Netscape 
XML Sitemap