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So yeah... looks like I forgot to file '05 state taxes.

A

AStar617

Diamond Member
I'm in Massachusetts.

A bunch of distracting life crap was going on in April and I went to telefile but got disconnected and never went back to complete it. I just found the paperwork while unpacking from a move, and was reminded of the fact that I never got a chance to finish the process. 🙂

I expected to be almost even steven, plus or minus $5 bucks. This excerpt makes me think I should be okay:
If you do not have a valid extension and do not file your return by the due date, you will be charged a late return penalty of 1% per month on the unpaid tax. In addition, any portion of the tax not paid by the due date is subject to a late payment penalty of ½% per month on the unpaid tax. Both late return and late payment penalties are capped at 25% of the unpaid tax.
Click to expand...

I know that every day I wait, I leave them an opportunity to audit me. That would suck. However, I take this to mean that no matter how long they've accrued, I'm only stuck with 25% (late return filing penalty) plus 25% (late payment penalty) extra, or $2.50 extra. Even if I miscalculated and I owe $50--which I KNOW I dont owe, since I worked the numbers out on TurboTax Online but didnt file with them for a $30 fee to get a $5 return--that's still only a liability of $25 extra. Is that right? And if I take care of this before being prompted, do I still get audited on previous years just for being this late?

 
yes, the penalty is on the amount you owe

so unless you owed a lot, it won't be that bad

basically, they don't penalize people that are due refunds, but people that failed to pay owed taxes on time get hammered

take care of it immediately!
 
File now. Even then, in 20 years when you want to run for Congress, the Democrats will wait until 30 days before election to let everyone know you are a no-good tax-evader. Kiss your political career goodby.
 
Why would my own party sell me up the river? 😉 j/k, lemming-esque bipartisanism is destroying this nation. I'm indie for life.

I plan on filing. I'm just curious if I'm still open for audit even after I file late without an extension.
 
Originally posted by: FoBoT
you can get audited either way, just take care of it
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QFT. If you are due a refund, then all is well. If you owe them, the sooner you get it straight, the better you will be.
 
Originally posted by: ZOOYUKA
Sounds like you will probably end up in a Federal pound you in the ass prison!
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He's fine. Just needs to file. Provided of course there isn't any funny business going on.
 
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