|
07-02-2013, 02:06 PM
|
|
|
|
384 posts, read 570,587 times
Reputation: 837
|
|
|
I recently got a tax refund back after I had asked that it be applied to my following year's taxes. I have not cashed the check. The reason I moved it forward is that I am late filing 2010. 2011 and 2012 and will be short on those years if I don't move that money forward. I have estimated I will still get money back but not that they have sent me my money, I will be short about $2,500 by the time I catch up.
I did this the previous two years without a hitch and under the law you have three years to file if you don't owe any money.
Getting them on the phone is tough. My plan is to return the check and stick to the original instructions I put on my return.
If I read it correctly, the penalty for filing late and owing money can be equal to the amount that is owed. Yikes.
Does anyone have experience with this scenario?
Thanks.
|
|
07-02-2013, 08:35 PM
|
|
|
|
Location: Alexandria, VA
14,473 posts, read 25,533,075 times
Reputation: 24835
|
|
|
Just curious as to why you wait so long to file? (you said you did it the previous two yrs. so you've been late quite often)
|
|
07-03-2013, 03:22 PM
|
|
|
|
1,924 posts, read 2,267,120 times
Reputation: 1274
|
|
|
There's nothing wrong with filing late so long as you request an extension (Form 4868) and pay any tax that's actually due by April 15. That said, it is not "hard" to get the IRS on the phone in comparison to any other large organization that deals with millions of customers, and it would definitely be best to talk to a representative here, as this is not a run-of-the-mill situation. You can certainly apply any refund due in one year to the tax bill of the following year, and many people do exactly that every season. If your instructions to that effect were somehow ignored or misunderstood, this is something that should be straightened out on the phone in less than ten minutes.
|
|
07-04-2013, 09:32 AM
|
|
|
|
Location: Wonderland
65,101 posts, read 54,756,509 times
Reputation: 96284
|
|
|
I agree with the above post.
How 'bout you just file on time each year from here on out and avoid all this drama? It's just really not that hard to do.
|
|
07-04-2013, 02:36 PM
|
|
|
|
1,924 posts, read 2,267,120 times
Reputation: 1274
|
|
|
The reason that automatic extensions of time to file exist is simple recognition of the fact that April 15 may not be a convenient time for some taxpayers to file. It can take a good while to prepare and document a complex return. Form 4868 does not grant any extra time to pay your taxes. It merely provides more time to pull together the necessary paperwork. There is nothing irrational or unpatriotic about taking such time if or when it is needed.
|
|
07-04-2013, 06:09 PM
|
|
|
|
Location: Alexandria, VA
14,473 posts, read 25,533,075 times
Reputation: 24835
|
|
Quote:
Originally Posted by oaktonite
The reason that automatic extensions of time to file exist is simple recognition of the fact that April 15 may not be a convenient time for some taxpayers to file. It can take a good while to prepare and document a complex return. Form 4868 does not grant any extra time to pay your taxes. It merely provides more time to pull together the necessary paperwork. There is nothing irrational or unpatriotic about taking such time if or when it is needed.
|
3 years? |
|
07-04-2013, 08:47 PM
|
|
|
|
384 posts, read 570,587 times
Reputation: 837
|
|
Quote:
Originally Posted by KathrynAragon
I agree with the above post.
How 'bout you just file on time each year from here on out and avoid all this drama? It's just really not that hard to do.
|
How 'bout you mind your own business?
There is no drama except any that you try to create.
Last edited by cy_flembeck; 07-04-2013 at 08:56 PM..
|
|
07-04-2013, 08:49 PM
|
|
|
|
384 posts, read 570,587 times
Reputation: 837
|
|
Quote:
Originally Posted by Flamingo13
3 years?
|
That's the law. |
|
07-04-2013, 10:15 PM
|
|
|
|
1,924 posts, read 2,267,120 times
Reputation: 1274
|
|
Quote:
Originally Posted by Flamingo13
3 years?
|
No, six months. Used to be four months, but the extension deadline was moved from August 15 to October 15 some years back. Keep in mind that this is merely for the automatic extension of time to file an original return that comes through filing Form 4868. There are some other rules involved that may apply to filers abroad, particularly those in combat zones. The three years refers to the usual limit on filing a Form 1040X to amend an original return that was previously filed. If you get near the end of your 4868 six months, you need to file something and then later on amend it. And if those three years get close to being up before some legal matter that might affect your taxes is resolved, you can file a protective return to preserve your right to file based on such resolution when it actually comes down.
Bottom line is that 140 million taxpayers mean 140 million different filing situations out there. One size does not fit all. |
|
07-05-2013, 05:47 PM
|
|
|
|
Location: Wonderland
65,101 posts, read 54,756,509 times
Reputation: 96284
|
|
Quote:
Originally Posted by cy_flembeck
How 'bout you mind your own business?
There is no drama except any that you try to create.
|
LOL, your THREAD is about drama - and if you don't want people to chime in with their opinions, keep your IRS drama to yourself rather than posting it online in an open forum. |
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
|
|
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
