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Posted by Harlan Lunsford on March 12, 2008, 7:06 pm
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Paul Thomas wrote:
>> But it's quite possible that the OP has a safe harbor (e.g. withheld
>> during 2007 exceeds taxes owed for 2006 + 10%), and still owes a lot
>> for 2007. Then he underpaid with the first 1040V.
>
>
>
> Anything is possible. If that is the case, then he could use a 1040ES
> without fail, or a 1040V, or just send in a check with his SSN and "2007
> Form 1040" on it. The IRS seems pretty adept at cashing them.
>
No doubt as to that. You can even make your check out to Georgia
Department of Revenue and send it to IRS and they'll cash it. Oh, and
vice versa of course.
Nobody looks at anything!
ChEAr$,
Harlan Lunsford, EA n LA
--
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<< 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 >>
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Posted by Paultry on March 12, 2008, 9:58 pm
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Harlan Lunsford wrote:
> No doubt as to that. You can even make your check out to Georgia
> Department of Revenue and send it to IRS and they'll cash it. Oh, and
> vice versa of course.
> Nobody looks at anything!
>
I once dealt with a taxpayer who had a misapplied payment
issue. He faxed a copy of the canceled check to the service
center. They couldn't read the DLN on the fax so asked him
to send the original. He did. They deposited the canceled
check, It, of course, bounced at his bank. They assessed a
bad check 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. >>
<< ------------------------------------------------------- >>
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Posted by Paul Thomas, CPA on March 13, 2008, 8:11 am
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> Paul Thomas wrote:
>>> But it's quite possible that the OP has a safe harbor (e.g. withheld
>>> during 2007 exceeds taxes owed for 2006 + 10%), and still owes a lot
>>> for 2007. Then he underpaid with the first 1040V.
>>
>>
>>
>> Anything is possible. If that is the case, then he could use a 1040ES
>> without fail, or a 1040V, or just send in a check with his SSN and "2007
>> Form 1040" on it. The IRS seems pretty adept at cashing them.
>>
> No doubt as to that. You can even make your check out to Georgia
> Department of Revenue and send it to IRS and they'll cash it. Oh, and
> vice versa of course.
> Nobody looks at anything!
Actually they've gotten a little better as of late. A client of mine sent
in both her georgia and federal payments to the IRS, Georgia assessed a late
payment penalty and interest. She brought the notice by here, we sent her
back out to get copies of the canceled check that she swore she wrote, of
course, in her mail that day was an envelope from the IRS with her Georgia
check in it. We convinced the state to abate the penalties, she forked over
for the interest and was grateful that lesson was a cheap one.
--
Paul A. Thomas, CPA
Athens, Georgia
--
<< ------------------------------------------------------- >>
<< 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. >>
<< ------------------------------------------------------- >>
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Posted by Seth on March 18, 2008, 10:30 pm
Please log in for more thread options >> But it's quite possible that the OP has a safe harbor (e.g. withheld
>> during 2007 exceeds taxes owed for 2006 + 10%), and still owes a lot
>> for 2007. Then he underpaid with the first 1040V.
>
>Anything is possible. If that is the case, then he could use a 1040ES
>without fail,
If he sends a 1040ES for 2007 at this late date, wouldn't that cause
problems (with the IRS considering it to be for 2008)?
Seth
--
<< ------------------------------------------------------- >>
<< 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 Harlan Lunsford on March 19, 2008, 5:00 pm
Please log in for more thread options Seth wrote:
>>> But it's quite possible that the OP has a safe harbor (e.g. withheld
>>> during 2007 exceeds taxes owed for 2006 + 10%), and still owes a lot
>>> for 2007. Then he underpaid with the first 1040V.
>> Anything is possible. If that is the case, then he could use a 1040ES
>> without fail,
>
> If he sends a 1040ES for 2007 at this late date, wouldn't that cause
> problems (with the IRS considering it to be for 2008)?
>
> Seth
>
Not if he uses the only 1040ES available at the moment which is clearly
proclaimed upper right as being "2 0 0 7".
Now for 2008, the 1040es vouchers won't be in the mail until about April
1st so I hear.
ChEAr$,
Harlan Lunsford, EA n LA
--
<< ------------------------------------------------------- >>
<< 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. >>
<< ------------------------------------------------------- >>
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