>>>>>>>>And what if the return shows that you are entitled to a refund?>>>While I believe the IRS can still assess a late filing penalty, I have never seen it applied.5% of the tax still owed.5% of minus $100 (assuming a $100 refund) is a negitive number, so no penality.The penality comes from late filing with an amount due the IRS, and I have never seen a situation where it wasn't assessed.__________________________Anyone that has had a business and had to pay the fica and withholding and made their deposit one day late (or after 3:00 in the afternoon at some banks) KNOW how awful the penality can be!!!!!!!!!Employer's have to pay the FICA and W/H thru a bank a check is not sent to the IRS.Jean
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