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04-15-2009, 06:52 PM
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#1 |
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Ironworks Moderator
 Join Date: February 28, 2001
Location: Boston/Sydney
Posts: 11,771
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Has anyone been fined for being a day or two late on their tax return?
I know I had 4 months to do it, but I haven't yet.
 I'm planning to get it done this weekend. Anyone know if I will end up getting fined or arrested?
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04-15-2009, 06:57 PM
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#2 | |
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Unicorn
 Join Date: October 4, 2001
Location: Kingdom of the West,..P.o. Cynagus
Posts: 4,212
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Re: Has anyone been fined for being a day or two late on their tax return?
Quote:
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53.7% of all statistics are made up Last edited by Arvon; 04-15-2009 at 06:58 PM. Reason: I hit return and I wasn't finished. |
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04-15-2009, 07:38 PM
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#3 |
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Zartan
 Join Date: July 18, 2001
Location: America, On The Beautiful Earth
Age: 50
Posts: 5,373
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Re: Has anyone been fined for being a day or two late on their tax return?
You'll pay penalty and interest.
Any online tax provider (turbo tax, ect) offer easy online Federal extension filing. If your filing in MA you are automatically entitled to a state extension til 10-15.
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Support Local Music and Record Stores! Got Liberty? |
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04-15-2009, 07:39 PM
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#4 |
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Lord Soth
 Join Date: July 25, 2002
Location: Melbourne FL
Age: 59
Posts: 1,971
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Re: Has anyone been fined for being a day or two late on their tax return?
If you're getting a refund, I seriously doubt they'd fine you for letting them keep your money an extra couple of days...
If you owe a small amount, say a few hundred dollars, I doubt they'd even notice it. It'll probably take a few days to sort/scan the crush of returns mailed on the 15th anyway. If you owe a lot, and are late by a few weeks, you'll get a letter demanding payment and stating the penalty. I sent in a return without payment once. They will send you 3 notices to pay up before Taking Legal Action. The penalty, if any, is calculated at 18% annual interest. (This was several years ago, it might be more now) Bottom line -- if it's just a couple of days, I wouldn't sweat it.
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04-15-2009, 07:51 PM
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#5 | |
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The Dreadnoks
 Join Date: September 27, 2001
Location: Orlando, FL
Age: 61
Posts: 3,608
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Re: Has anyone been fined for being a day or two late on their tax return?
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If you owe money, you will not be arrested, but you will be assessed both a penalty and interest. At the very least, go to the quick assessment page and see what you need, or just file an extension if in doubt. http://www.irs.gov/irs/article/0,,id...html?portlet=7 Within a circle of two dozen, we sent our payments in today.
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The Lizzie Palmer Tribute  Let every nation know, whether it wishes us well or ill, that we shall pay any price, bear any burden, meet any hardship, support any friend, oppose any foe to assure the survival and the success of liberty. John F. Kennedy 35th President of The United States The Last Shot Honor The Fallen Jesus died for our sins, and American Soldiers died for our freedom.  If you don't stand behind our Soldiers, please feel free to stand in front of them. |
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04-15-2009, 07:53 PM
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#6 |
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Jack Burton
 Join Date: May 31, 2002
Location: Ireland
Posts: 5,854
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Re: Has anyone been fined for being a day or two late on their tax return?
The interest on money owed to the IRS is insane. I got a letter this year saying some of my income was reviewd and partially revoked and that I owe them back around 1k that they already gave me. After some bitching, contesting and an overall lingering confusion I gave up and just let them have it.
Fortunately, I still had most of it with me, so paid it to them right then and there BUT had I not I would have had to select a payment plan which gets hit with interest every 11 days at an rate of 11%! If you did that in low paymenmts you'd never pay it back. My status hasn't changed though, and I fully intend to file in exactly the same way next year so I dunno what will happen, but if I gotta do the whole "hearing" thing I will.
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Still I feel like a child when I look at the moon, maybe I grew up a little too soon... |
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04-15-2009, 08:55 PM
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#7 |
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40th Level Warrior
 Join Date: October 29, 2001
Location: Western Wilds of Michigan
Posts: 11,752
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Re: Has anyone been fined for being a day or two late on their tax return?
File the extension paperwork. That will give you three months (at least... I defer to greater knowledge of MA laws).
Interest may not apply, but fines always will.
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*B* Save Early, Save Often Save Before, Save After Two-Star General, Spelling Soldiers -+-+-+ Give 'em a hug one more time. It might be the last. |
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04-15-2009, 09:09 PM
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#8 | |
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The Dreadnoks
Join Date: September 27, 2001
Location: Orlando, FL
Age: 61
Posts: 3,608
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Re: Has anyone been fined for being a day or two late on their tax return?
Quote:
My understanding is similiar to what SW posted, 11% every 11 days.
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The Lizzie Palmer Tribute Let every nation know, whether it wishes us well or ill, that we shall pay any price, bear any burden, meet any hardship, support any friend, oppose any foe to assure the survival and the success of liberty. John F. Kennedy 35th President of The United States The Last Shot Honor The Fallen Jesus died for our sins, and American Soldiers died for our freedom. If you don't stand behind our Soldiers, please feel free to stand in front of them. |
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04-15-2009, 10:23 PM
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#9 | |
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Jack Burton
Join Date: May 16, 2003
Location: Dartmouth, NS Canada
Age: 58
Posts: 5,634
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Re: Has anyone been fined for being a day or two late on their tax return?
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The rest is secret, but the weight of responsibility in knowing the fate of our (your) very President and the lives of the American public, overshadowed the pressing (but somewhat less so) need to file your return. You can pay me later! 
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A MAN WHO WANTS FOR NOTHING HAS INFINITE WEALTH. (me) |
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04-16-2009, 12:35 AM
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#10 |
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Ironworks Moderator
Join Date: February 28, 2001
Location: Boston/Sydney
Posts: 11,771
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Re: Has anyone been fined for being a day or two late on their tax return?
Bugger. I'm filing this Saturday, hopefully the boffins won't notice (fat chance of that, eh).
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