The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Filing a Late Tax Return - Need Some Advice||Date: 6/18/2005 11:39 PM|
|Author: acm4tax||Number: 79741 of 122099|
...who hopes he won't be carted off to jail over a couple hundred $$ in late taxes.
IRS just wants your money, not your body. So don't fret. Pay up and be done with it.
However, if you do have a legitimate reason why you filed late, write a letter and see if you can get the penalties waived. It's not a red flag for an audit. Collections is totally separate from the audit group. I always figure the worst they can say is NO. So if you were ill, suffering from depression or something, write a letter and explain your reason for not filing after you get the bill. Pay the interest and request an abatement of the penalty.
|Copyright 1996-2015 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|