What happens if I file my taxes late?
450765
If you are going to get a refund, there are no penalties or interest assessed.  The IRS actually pays you a relatively low rate of interest on the money they owe you.\n\nIf, however, you owe money, then the interest and penalties build up rather quickly.  Failure to pay is equal to .5% of the balance due per month that you pay late, up to 25% of the total balance due.  Failure to file is either 4.5% or 5% of the balance, again up to 25% (a minimum of $100).  Then, on top of that, you must pay interest.\n\nRegardless of whether you owe or are due a refund, I would file Form 4868 online to give you an extension to file your return.  While this won't stop interest and failure to pay penalties, it will help you avoid failure to file penalties, and gives you 4 extra months to file.
297622
You keep getting penalties & fees added onto the amount you owe. It tells you on your tax notification form what the penalties are if you don't pay by certain dates.
451404
If returns are still not prepared please get extension from IRS and enjoy extended honey moon\n   \n \n The U.S. Postal Service® has long provided you with a convenient, reliable way to get your taxes delivered on time. We’ve extended hours on tax day at some locations to make things easier for you. \n\nThis year when you mail your taxes with the U.S. Postal Service your return is considered filed if postmarked by April 17—or April 18 if you live in Maine, Maryland, Massachusetts, New Hampshire, New York, Vermont, or the District of Columbia. \n     \n Please visit usps.com
419526
If Im not mistaken you have to wait until the taxes are processed before you can fix errors....
165454
Easy answer ...\nApril 17th, the April 15 statutory deadline for income tax filing falls on a Saturday. When that happens, the IRS pushes the deadline to the next business day. \n\nBut Also ...\nIf you are not able to file your federal individual income tax return by the due date, you may be able to get an automatic 6-month extension of time to file. To do so, you must file Form 4868, Application for Automatic Extension of Time To File U.S. Income Tax Return , by the due date for filing your calendar year return (usually April 15) or fiscal year return.\nhttp://www.irs.gov/formspubs/article/0,,id=98155,00.html
1095804
Tax returns are basically a yearly reconciliation between the amount you have had withheld from your paychecks and the amount of tax you owe on your total income. If you have had more withheld than you owe, you get the extra refunded. If you have not paid enough, then you owe taxes, which you better pay by April 15 or you will owe penalty and interest as well. Everybody's taxes are different.
51085
I believe that you would have to wait for it to be sent to you as you cannot print out one yourself. However I just saw a commercial yesterday for H&R Block where you can get a loan for your refund without having your w-2's. You just take in your last paycheck of the year and they gather all of your info.
901481
If you have closed on the loan, you are done.  If they are asking for tax returns that they have not received, I seriously doubt you have actually closed.  In any case, file returns now.  If you are due a refund, you are still within the 3 year window to claim the refund.  If you owe the IRS, penalties and interest continue to accrue until you pay.  The 3 year window for assessing tax does not start until you file.  If you never file, the IRS can come after you forever even without alleging fraud.
260669
Make sure you file your return even if you cant pay what is due.  Wait for the IRS to bill you, once you have the bill call IRS and make arrangements to pay monthly what they determine you can pay.
233960
When you file an extension, it doesn't give you more time to pay any taxes you owe.  The IRS rules say that you have to pay any money you owe with the request for an extension.\n\nAll the extension does it to give you more time to complete and file your return.\n\nIf you need time to pay what you owe, you should call the IRS **immediately** and arrange a payment plan.  If you wait, you will just have to pay more penalties.\n\nThe number is 1-800-829-1040.
122233
a person who does not receive a w-2 is responsible to call the company and request a w-2.  the irs normally has to get a complaint to do anything, but they don't take complaints like that very seriously unless it has been a considerable amount of time.  in 17 years of accounting i have never seen the irs go after anyone for sending out late w-2's
772621
It is risky not to file.  When you don't file, the IRS sometimes does your tax return for you assuming the worst case conditions.  They may send you a bill for tax you owe based on bad assumptions.  It may turn out that you really deserve a refund, but because the IRS did the return for you, you may end up owing.\n\nRegardless, if you are due a refund and don't file within 3 years, you will never get the refund.  If you owe money and don't file within 3 years, you STILL owe the money plus penalties.  If you file late, but within the 3 years AND you are getting a refund, you will NOT have to pay any penalties.  If you file late and owe money, you will have penalties thrown in as well.\n\nOne last thing, sometimes when you go for a loan, they need to see your tax returns to see if you have income to support the loan.\n\nI can't think of a good reason to EVER not file a return.  Why get on the bad side of the government for no reason.  You may be forgoing a refund.  A lot of people don't file because they owe child support or something.  This is a bad reason not to file.  Why?  Even if your entire refund goes to pay child support, at least you will owe that much less child support.  The amount paid is credited to you.  If you don't file, you get NO credit and NO refund.  You loose both ways.  Plus, you make the IRS mad.\n\nAn other reason people don't file is because they will owe.  This is another bad reason not to file.  Even if you owe, at least file the return even if you don't send in any money with the return.  The fact that you filed will lessen the impact of the penalties.  Besides, if the IRS does your return for you, they may do it in such a way that you will owe more than you really do.\n\nPlease do your tax return each year.
974786
You still need to file, and would be better if you do it before they contact you (and if you had income that was reported, they will eventually, by which time you'll owe even more in interest and penalties.\n\nYou should always file even if you don't have the money to pay.  If you can't pay right away, they'll set up a payment plan, and yes, you'll be charged interest.\n\nYou're not going to be in some kind of major trouble, so don't worry about that.  Just go ahead and file, or contact the IRS and tell them your situation.  If they get your return without a check, they'll contact you to set up a plan to pay.
446927
Definitely call them.  Just because it is their fault they were late processing, they will still get ya for whatever they can think of.  Just like the IRS - they will come back years later finding a mistake on your tax return and they have the Ba l l s to stick you with late fees and interest for all the time it took them to object.
736488
Get the forms for the year in question and file the return. If you owe tax they will assess interest and penalty. If you are due a refund you need to get the return filed before three years are past at which time you will lose the refund.\nIf you don't file there is no statute of limitations running and they can come after the return at any time in the future.
215920
I'm not sure if you are asking if they should send it to you before your taxes are due. If you are the answer is yes. If you have not got yours I would call them. You can ask them to send you a new one or fax it to you. You can get your taxes done even if you don't have the form. As long as you have the amount that you pd.
22936
If you haven't filed, you should file at your earliest possible convenience. You have three years from the original due date of the return to file a tax return (or amended return) to claim any tax refunds. That means as of right now, you can file your 2004, 2003, and 2002 tax returns and still get a refund. What about 2001 and earlier? You should also file those as well. If your return shows a refund, you won't get that refund check. Sorry. If you owe, penalties and interest will be added.\n\nAs a practical matter, you will still need various documents to support your tax return -- such as W2s and mortgage interest statements. Those records are generally kept for 5 to 7 years by the IRS. So you can get copies of your supporting documents if need be.\n\nAs for tax collections, the IRS can collect on tax debts for up to 10 years from the date you actually filed a return. If you never filed, they can collect tax debts indefinitely. Just another benefit of filing at your earliest possible convenience.\n\nYou can find all the IRS time limits (or "statute of limitations" as they are called) from my web site at the link below.\n\nAll the best,\n\nWilliam Perez\ntaxes.about.com