 Why would anyone in there right mind say the rich need bigger tax breaks? |
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| I chose not to let the casino deduct taxes (at 30%) because the IRS guidelines say that the IRS deducts 25%. I need to know if the amt I won will be considered general income so that my deductions ... |
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Ugh, this is really bad, but anyway...
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 I have a tax refund question.I checked my refund status on the irs website? |
| It said my refund was mailed on the 8th but at the bottom there was a note that said my refund may be reduces to pay a past due obligation such as child support or another federal agency debt. It ... |
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 Should i report her? |
| This lady does alot of house cleaning and makes between 450 to 500 euros a week. She doesn't pay any tax. Her husband is a self employ painter who does pay tax but also does few jobs for cash in ... |
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 How much tax should I be paying after I have earnt £5000? |
I have two part time jobs, (both declared, above board...etc etc) and on one I dont pay any tax, the job pays me £4500 a year.
On the second job, I have for the last tax year been paying 2... |
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 If I Net $550/week, what is my yearly Gross Income? |
I live in Louisiana if that matters.
Additional Details
I claim single and one, I am 25. The only deductions from my check each week are Federal and state taxes, Fica, and medicare.... |
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| My aunt did my family's taxes for me. I'm 20 years old and my aunt filed me as independent because I'm in school and moved out of my parent's house and pay my own bills. I got my ... |
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| I am in the process of trying to reclaim all my bank charges for the last 6 years, many cases have suceeded but they have not got back to me I have been waiting 2 months now. What do you think my ... |
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Mic | I just mailed my taxes in on the 24th.. I was told I wont get in trouble because its a refund. Is that true? |
My brother has been doing my taxes for years. He’s a CPA and is really good at his job. I slacked on doing my taxes with him and so I had to mail them out late. I told him I was nervous about mailing them in to the IRS late but he told me that since I was getting a refund that I should not worry about it, and with his experience he has never heard of anyone getting in trouble for turning them in that late while getting refund. Should I trust him? |
 |
 
Ms. S
 |
It depends. Most of the time, they won't do anything, because well, you DID get them in, albeit late, and since they owe you rather than the other way around, that actually works in their favor.
In theory, they could give you trouble, but normally, they simply won't bother. (You're not the only on in this situation - not by a long shot - and it'd be a LOT of work to go after all the people who're a few days late.)
However, if they wanted to, they could indeed give you trouble - the fact is that you were late, after all. so in theory, if you ran into a particularly grumpy IRS worker, or if you ever gave them any type of grief in the past, they might go after you "just to show you".
But the odds are overwhelming that they won't, so I'd follow your brother's advice and not worry about it. :) |
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bostonianinmo
|
Yes, he's correct. Penalties are based upon the amount of the tax due with the return. If no tax is due, there is NO penalty.
(The loons above who say you're in trouble are CLUELESS!) |
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Geeeyaaa
 |
Yes, your brother is right.
If you have a refund, there is no penalty for filing late.
Penalties are calculated on the AMOUNT DUE. Since there is NO AMOUNT DUE, there is NO PENALTY.
http://taxes.about.com/od/backtaxes/qt/irs_tax_penalty.htm |
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ed
 |
Your brother is right. |
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RichManPoorMan
|
I agree with the correct answers above...you are fine. I too have filed numerous clients' taxes late that were getting a refund and have never seen a penalty charged. I have even filed taxes YEARS late, with no penalty because they showed a refund. fahgetaboutit 8-) |
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Judy1
|
Yes - if you get a refund, there's no penalty on your federal return. |
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oldschooldude
|
If the IRS owes you money,they don't care if you NEVER file for a refund,but if you owe them 11 cents....you BETTER pay on time ! Seriously,I have fellow soldiers who filed YEARS late with no problems at all,Even after they were out of the military.You can call the IRS toll free no. and they'll verify what I say. |
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Jo Blo
 |
You can trust what your brother said,,
(this time anyway)
The only "fine" you will pay is having to wait much longer for your refund,, but no trouble.. |
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SG Elite
|
False. Timeline is timeline; no bargaining. |
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Sophia
|
Your brother is wrong. I would hope that a CPA would offer you or anyone for that fact, the truth--he should know better!
The deadline is for everyone, regardless.
Good luck! |
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