so what actually happens if you miss the tax deadline?

supernova87a

Senior member
Dec 6, 2000
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just curious, does anything really so bad happen if you miss the tax deadline today? Has anyone here ever missed the deadline? How much do you have to pay if so?
 

Freejack2

Diamond Member
Dec 31, 2000
7,751
8
81
The IRS will come to your door and take everything including the shirt off your back and put you in debtors prison for life. :p
 

illusion88

Lifer
Oct 2, 2001
13,164
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They track you down like wolves and tear your life to shreds!

I would do as MichaelD does...
RUN!
 

LeeTJ

Diamond Member
Jan 21, 2003
4,899
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seriously

nothing.

you will eventually file and IF you owed taxes you will pay a penalty, IF you were owed money, you will receive it no penalty.

just don't let it happen too many times. :)
 

tm37

Lifer
Jan 24, 2001
12,436
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Originally posted by: supernova87a
just curious, does anything really so bad happen if you miss the tax deadline today? Has anyone here ever missed the deadline? How much do you have to pay if so?

How much do you owe?
 

supernova87a

Senior member
Dec 6, 2000
261
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0
actually i don't owe anything -- just wondering why everyone acts like if you don't get the stuff in today, you're in deep trouble!
 

pennylane

Diamond Member
Apr 28, 2002
6,077
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the IRS comes and gets you. then they make you be a spy so you repay your debts to the U.S.
then they make you search for a trillion dollar bill
 

MichaelD

Lifer
Jan 16, 2001
31,528
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Originally posted by: supernova87a
actually i don't owe anything -- just wondering why everyone acts like if you don't get the stuff in today, you're in deep trouble!

Because legally, you have to file your income tax report by 15 April every year. If you're a US Citizen, that is. I believe resident aliens are exempt...I could be wrong on that, though.
 

LeeTJ

Diamond Member
Jan 21, 2003
4,899
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Originally posted by: supernova87a
actually i don't owe anything -- just wondering why everyone acts like if you don't get the stuff in today, you're in deep trouble!

i've gone several years without filing because i knew i had no real income, less than 10k on my w2's and would file every 2nd or third year. no big deal.

BUT if you have a small business (which i do) your better off filing on time every year, less likelihood to get audited.
 

Tetsuo

Lifer
Oct 20, 2002
10,908
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Originally posted by: Freejack2
The IRS will come to your door and take everything including the shirt off your back and put you in debtors prison for life. :p

 

MichaelD

Lifer
Jan 16, 2001
31,528
3
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Originally posted by: Ylen13
so what happens if u miss it by let say 10 sec?

Your taxes have to be either filed electronically, or the envelope has to be stamped NLT than 23:59 hours, 15 Apr 2003. If not, you're late. Period.
 

LeeTJ

Diamond Member
Jan 21, 2003
4,899
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Originally posted by: Ylen13
so what happens if u miss it by let say 10 sec? and u owe 15,000 in tax

the penalty is a percentage based on amount of money owed and length of time late. :)
 

N8Magic

Lifer
Dec 12, 2000
11,624
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This could be foolish of me to post (*cough*carnivore*cough*), but I haven't filed since '99. :eek:
 

MichaelD

Lifer
Jan 16, 2001
31,528
3
76
Originally posted by: N8Magic
This could be foolish of me to post (*cough*carnivore*cough*), but I haven't filed since '99. :eek:

Really? Wow. Good luck trying to finance anything.
 

DaWhim

Lifer
Feb 3, 2003
12,985
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no worry, IRS is "losing the war against tax cheaters." quote from the former chairman of IRS.
 

Ylen13

Banned
Sep 18, 2001
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Originally posted by: LeeTJ
Originally posted by: Ylen13
so what happens if u miss it by let say 10 sec? and u owe 15,000 in tax

the penalty is a percentage based on amount of money owed and length of time late. :)

guess its good my dad send it on time :)
 

N8Magic

Lifer
Dec 12, 2000
11,624
1
81
Originally posted by: MichaelD
Originally posted by: N8Magic
This could be foolish of me to post (*cough*carnivore*cough*), but I haven't filed since '99. :eek:

Really? Wow. Good luck trying to finance anything.

I got a mortgage last fall @ 3.65% and a car loan @ 5% 6 months before that.

The government knows what I make. :)
 

LH

Golden Member
Feb 16, 2002
1,604
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Not speaking from experiance but I know a few people that havent paid taxes for years, were even audited at one point, and still nothing.

Seriously the IRS Audit department is understaffed. It takes years for you to get audited unless you owe hundreds of thousands in taxes. But I do know someone that hadnt paid taxes in 6 or 7 years, they got audited, they sent in the money, then the IRS sent back three checks that totaled the amount the person paid. They really havent done anything.

Its not like a Federal Agent will come and knockdown your door and take your property if you are late.
 

MichaelD

Lifer
Jan 16, 2001
31,528
3
76
Originally posted by: N8Magic
Originally posted by: MichaelD
Originally posted by: N8Magic
This could be foolish of me to post (*cough*carnivore*cough*), but I haven't filed since '99. :eek:

Really? Wow. Good luck trying to finance anything.

I got a mortgage last fall @ 3.65% and a car loan @ 5% 6 months before that.

The government knows what I make. :)

Dang. They'd have shot me dead already. Can I hang out with you?
 

N8Magic

Lifer
Dec 12, 2000
11,624
1
81
Originally posted by: MichaelD
Originally posted by: N8Magic
Originally posted by: MichaelD
Originally posted by: N8Magic
This could be foolish of me to post (*cough*carnivore*cough*), but I haven't filed since '99. :eek:

Really? Wow. Good luck trying to finance anything.

I got a mortgage last fall @ 3.65% and a car loan @ 5% 6 months before that.

The government knows what I make. :)

Dang. They'd have shot me dead already. Can I hang out with you?

The key point here is that the company that I work for is VERY good at deducting the proper amounts from my paycheck.

It always works out to be within a few dollars in my favour. Not even worth the cost of a stamp. :)