If I Don't Owe Taxes But File Late, Such As Later This Year Of 2019, Due To A Situation, Will I Get Any Penalties? (loan, accountant)

[Blackandgold51]

I had mailed off some W2 forms to my relative, Aunt, who does taxes.

I stay in Louisiana and She stays in Maryland.

Which the papers were mailed a couple of months ago but no sign of it yet.

I dont owe taxes however, when The papers get to her can I file later this year and will I get a penalty?

[Lucy_C]

There is only a penalty for paying your taxes late. If you are due a refund, there is no penalty for filing late (and giving the government an even longer interest free loan).

[BugsyPal]

Originally Posted by Lucy_C

There is only a penalty for paying your taxes late. If you are due a refund, there is no penalty for filing late (and giving the government an even longer interest free loan).

No, that is not technically correct.


Failure to file taxes on time, and failure to pay taxes when due are two separate issues.


https://www.irs.gov/newsroom/eight-f...ment-penalties




https://www.irs.gov/taxtopics/tc653


That being since penalties and fees are based upon total sums owed, then yes, if a person or business has zero liability then usually the penalty fee for failing to file will be nil.

[Thatsright19]

Originally Posted by Lucy_C

There is only a penalty for paying your taxes late. If you are due a refund, there is no penalty for filing late (and giving the government an even longer interest free loan).

Remember that degree you got in taxation?

Of course you don’t.

[aridon]

The penalty for filling late is a percent of unpaid taxes

It you don't owe, you can file late, without extension and without penalty.

You have 3 years from the filing deadline to claim a refund.

[cebuan]

I filed when I owed no taxes, and they wrote back that I do not need to file if I don't owe. So I didn't, and they haven't said a word, for 28 years now.


Some of you have paid a million dollars in that 28 years. Thank you.

[tickyul]

I hope not............I just filed 6 years of back-taxes.

Gulp, my returns showed I owe nothing.....but that may changes when a scowling, angry IRS-Agent
decides different.

[RationalExpectations]

Q: If I Don't Owe Taxes But File Late, Such As Later This Year Of 2019, Due To A Situation, Will I Get Any Penalties?

A: There's a special carve-out if it is due to a situation.

[Hoonose]

Originally Posted by RationalExpectations

Q: If I Don't Owe Taxes But File Late, Such As Later This Year Of 2019, Due To A Situation, Will I Get Any Penalties?

A: There's a special carve-out if it is due to a situation.

I'm in a situation where I'm caring for my wife 200 miles from my records and receipts. So my accountant filed an extension for me.

[Blackandgold51]

Originally Posted by RationalExpectations

Q: If I Don't Owe Taxes But File Late, Such As Later This Year Of 2019, Due To A Situation, Will I Get Any Penalties?

A: There's a special carve-out if it is due to a situation.

You want to be a smart*** don't you?