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Financial Planning / Tax Strategies


Subject:  Re: Off the wall problem...need info Date:  3/24/2001  9:59 PM
Author:  acm4tax Number:  48942 of 128041

To ZolaX,

It's been my experience with my clients that if you owed no tax last year, there will be no penalty or interest unless you do not pay in full by April 15th,(April 16th this year - unless you're in Mass, then it's April 17th).

I agree with the writer above who suggested you filed the joint tax return if the liability on the amended return is less than $1900. And while you're at it, if your husband had no taxable income back to 1997, why don't you file amended returns back to 1997 and get those refunds? (Unless his social security becomes taxable when combined with your income and exceeds the personal exemption?) 1997 becomes a closed year on April 15th, three years from the original filing deadline of April 15, 1998.

Best wishes to you both.
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