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SLOW_V · 01-23-2009

^^I had never known uncle sam forgiving in regards to late filings (filed past filing date) when money is owe to them regardless of which type of entity you file under. Usually, there is a penalty of fees they accessed and it is not worth doing. It is easier to spend 5min filing for extention then avoiding not to file. However, I would assume you are talking about in cases where IRS owes you money. Then no, you are right. You may have a few years to file.

The state on the other hand will attempt to calculate your tax returns base on w2/1099 reported to them and determine what you owe them (only if you dont file at all). Once they determine you owe them money. They will contact you directly. However, if deemed they owe you, they won't bother.

01-23-2009	#58
SLOW_V Join Date: Apr 2006 Location: STP Posts: 206	Re: This years taxes! ^^I had never known uncle sam forgiving in regards to late filings (filed past filing date) when money is owe to them regardless of which type of entity you file under. Usually, there is a penalty of fees they accessed and it is not worth doing. It is easier to spend 5min filing for extention then avoiding not to file. However, I would assume you are talking about in cases where IRS owes you money. Then no, you are right. You may have a few years to file. The state on the other hand will attempt to calculate your tax returns base on w2/1099 reported to them and determine what you owe them (only if you dont file at all). Once they determine you owe them money. They will contact you directly. However, if deemed they owe you, they won't bother. Last edited by SLOW_V; 01-23-2009 at 03:50 AM..