Comments on: What Happens If You Don’t File Your Tax Return? https://www.goodfinancialcents.com/file-tax-return-what-happens-when-you-dont-penalties/ Tue, 03 Oct 2023 08:07:03 +0000 hourly 1 https://wordpress.org/?v=6.4.3 By: Jeff Rose https://www.goodfinancialcents.com/file-tax-return-what-happens-when-you-dont-penalties/#comment-169389 Thu, 02 Feb 2017 20:34:49 +0000 http://gfc-live.flywheelsites.com/?p=3389#comment-169389 In reply to Maria.

Hi Maria – If you’re exempt there should be no problem, as long as you were also exempt in all 6 of those years.

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By: Jeff Rose https://www.goodfinancialcents.com/file-tax-return-what-happens-when-you-dont-penalties/#comment-169381 Thu, 02 Feb 2017 20:08:44 +0000 http://gfc-live.flywheelsites.com/?p=3389#comment-169381 In reply to JOHN J. KING.

Hi John – They do pay interest on overdue refunds – 4% per year was the latest figure I heard. I do believe that there’s a limit on how far back you can go with a refund – three years I believe. But check with a tax preparer.

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By: JOHN J. KING https://www.goodfinancialcents.com/file-tax-return-what-happens-when-you-dont-penalties/#comment-169262 Wed, 01 Feb 2017 23:41:41 +0000 http://gfc-live.flywheelsites.com/?p=3389#comment-169262 I have a question? If you don’t do your taxes for, let”s say 4 years, and then you do and the government owes you $10,000, do they pay you interest on that money. And if they do, what interest rate do they pay you as compared to the interest rate you pay them if you are late in paying them when you owe them money.
Thank You,
John King

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By: Maria https://www.goodfinancialcents.com/file-tax-return-what-happens-when-you-dont-penalties/#comment-169084 Tue, 31 Jan 2017 09:48:09 +0000 http://gfc-live.flywheelsites.com/?p=3389#comment-169084 In reply to Jeff Rose.

What if one is exempt all year but has not filed for over 6 years

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By: Jeff Rose https://www.goodfinancialcents.com/file-tax-return-what-happens-when-you-dont-penalties/#comment-166928 Mon, 09 Jan 2017 18:32:58 +0000 http://gfc-live.flywheelsites.com/?p=3389#comment-166928 In reply to Deanna Carlos.

Hi Deanna – There’s no way to know without seeing your income numbers. Sit down with a tax preparer and see what they recommend. Be sure to bring all of your income documentation with you.

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By: Jeff Rose https://www.goodfinancialcents.com/file-tax-return-what-happens-when-you-dont-penalties/#comment-166926 Mon, 09 Jan 2017 18:21:07 +0000 http://gfc-live.flywheelsites.com/?p=3389#comment-166926 In reply to Katrina.

Hi Katrina – My advice is to meet with a tax preparer and discuss your options. Since your husband hasn’t filed in 5-6 years, this can become very involved. Most likely, you’ll be advised to file as “married filing separately” if you believe that you will get a refund.

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By: Jeff Rose https://www.goodfinancialcents.com/file-tax-return-what-happens-when-you-dont-penalties/#comment-166921 Mon, 09 Jan 2017 17:59:49 +0000 http://gfc-live.flywheelsites.com/?p=3389#comment-166921 In reply to Velma.

Hi Velma – You can still file separately, but you’ll have to file as “married filing separately”. You won’t be able to file as head of household however. If your tax preparer has advised you to file that way, it’s probably because it will result in a lower tax liability than married filing jointly.

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By: Jeff Rose https://www.goodfinancialcents.com/file-tax-return-what-happens-when-you-dont-penalties/#comment-166918 Mon, 09 Jan 2017 17:53:56 +0000 http://gfc-live.flywheelsites.com/?p=3389#comment-166918 In reply to Heather Johnson.

Hi Heather – Filing an amended tax return for 2015 would be the cleanest and most conclusive way to put an end to it. Also, if she had withholding on the missing W2, she might be entitled to a refund.

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By: Deanna Carlos https://www.goodfinancialcents.com/file-tax-return-what-happens-when-you-dont-penalties/#comment-166739 Sat, 07 Jan 2017 14:12:55 +0000 http://gfc-live.flywheelsites.com/?p=3389#comment-166739 In reply to Roy.

I have the same mind of question I haven’t files for a few years but also have.not worked only receive calworks and child support at the moment to I have to file I never new if I had to or not

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By: Katrina https://www.goodfinancialcents.com/file-tax-return-what-happens-when-you-dont-penalties/#comment-166666 Fri, 06 Jan 2017 21:11:27 +0000 http://gfc-live.flywheelsites.com/?p=3389#comment-166666 Hey! I have a very bug concern. I’ve always filed my taxes on time every year. I just recently got married in June of 2016. My husband pays child support on 4 kids. It comes directly out of his paycheck but he is still behind on each case. He just informed me that he hasn’t filed in probably 5-6 years because the child support just took it all anyway. He works 2-3 jobs at a time so I know he had plenty of income. 30,000-40,000 a year probably. What steps do we need to take to right the years he missed and how can we file this year and I still get the money owed to me for my son and what I’ve worked.

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