Advice needed. Tax deadline missed.

[icymist]

My procrastinating friends missed the deadline to file for an extension of federal taxes. Anyone with good advice for what they can do to keep out of trouble?

[Richardo]

1. "Friends" huh?

Yeah right. :D

That's it - I have no constructive input.

[icymist]

2. Yeah, friends. I filed my tax on time.

I'm very punctual in this matter. However, my friends are not and I'm trying to help out.

edit for spelling

[SheilaT]

6. I am not a tax person

but I guess that they are better off filing late than not filing at all.

I rather doubt that someone at the IRS actually looks at all the postmarks of all the mail pouring in in the next few days.

[Book Lover]

3. Not an accountant or lawyer, but what I would do is

file the extention form right away anyway.

on edit: It's not like the situation is going to get any better by them avoiding the paperwork.

[BurtWorm]

4. If they just get the taxes in, the "trouble" won't be unbearable.

Just get the taxes in.

[Dora]

5. Send it in anyways.

We did too. We've done it before. Your friend will get a letter saying the extension was late and thereby denied, and that they must file their taxes immediately. And your friend will file, and it will be okay.

At one point, we had five years worth of taxes to file. Mmmmm.... those were some proscratinatin' times we had there. We finally caught up and got everything filed without sanctions - we received refunds for each year filed.

If your friend owes any taxes, the IRS will probably be not as accomdating as they were with us.

[Horse with no Name]

7. I would get it in the mail today and hope for the best

There were some mail delivery glitches and bad weather in some areas.
Hopefully the IRS will be a little generous.

[Raven]

8. I think they should file the extension anyway and pay what

they think their taxes will be. People tend to forget that the extension is an extension to file the return, it's not an extension of the payment deadline. After they file the extension, they should get their return in a soon as possible. I think the penalty for late filing in interest and a penalty. Not filing a return at all is more serious. Also, if they were in any of the states, in New England, that had the storm, they have until midnight tomorrow (Thursday) to file and they should mark on their return "April 16 Storm."

[Jeff In Milwaukee]

9. If they don't owe the IRS...

they don't have to worry about it too much. The IRS likes it when you don't claim your refund.

If they owe the IRS, file the return immediately (i.e., TODAY) with an explanation of any extenuating circumstances that delayed your filing and pay your balance due in full. They might go easy on you.

[shaniqua6392]

10. Are they in one of the states that is getting an extension??

There are several states that are being given more time. Personally, I would just mail them today.

[icymist]

11. No, they're in the Pacific NW.

One is a trucker and is currently on the road.

edit for spelling

[damntexdem]

18. Then, 'she took a da money and flew Venezuela.'

That, or they should file as soon as possible while keeping their fingers crossed.

[Big Blue Marble]

12. File the extension as soon as possible.

If your friends does not owe any taxes, there is no penalty. If taxes are owed, the sooner the extension is filed and estimated taxes paid, the less the
penalties and interest will be.

[wakemeupwhenitsover]

13. If the IRS owes them money, they're fine.

If they owe the IRS money, send the extension in immediately with a check for the estimated amount. And yes, the IRS checks all postmarks. If they're only a day or two late & the amount they owe is small the penalties & interest won't be a big deal.

(One year I had an absolute brain spasm & sent the forms in without the checks. As soon as I realized what I had done I called my CPA. Once he got done laughing he told me not to worry.)

[icymist]

14. Thank you everybody for your responses.

I am now nagging my friend to call a CPA and get something filed today.

[meldroc]

15. Do they have money coming back or do they owe?

If they have a refund coming back, the IRS doesn't care at all. I've filed months late, claiming a refund, and got the refund.

If you owe money, then you'll want to file as soon as possible. The IRS does care when they see an opportunity to take more money from you.

[Warpy]

16. Turbo Tax conked out yesterday

I'm just hoping MY extension got filed!

[Kerrytravelers]

17. It's just one day past the postmark date. Just tell them to send it in.

Or, they might want to check with the person who helps them with their taxes on correct procedure.

[Touchdown]

19. If they get a refund, it's no problem.

If they have to pay, that have to file for an extension. Call the IRS on what to do.

[npincus]

20. some deadlines were extended due to weather (flooding)

which state are we talking about? NJ for one, because of the flooding the (Fed, I believe) deadlines were extended to April 19. And in other states,too. Would this apply?

[Blackhatjack]

21. Use Turbotax and file electronically today.....

you will not be charged the 'late fees' if you used Turbotax and file it today. Turbotax had a breakdown yesterday and the IRS will give you a break.

Even if you have to amend your return later, I would get it in today.

[Geoff R. Casavant]

22. By all means they should pay as much as they can now.

Assuming they still owe something after factoring in their withholdings.

The IRS usually assesses penalties based on the amount of tax that was unpaid, so paying up now will mean less penalty when they do file.

And I agree, file the extension request (and send the check in with it). The extension may be denied, but the payment will be accepted.

[laylah]

23. can they file for an extension

via the IRS website?

Jenn