How can the IRS ask for interest on owed taxes but will not add interest when they owe back taxes?
111481
Wait a minit!  You're expecting the IRS to play fair???  How naive can you get?
479049
You have to request an extension. There is an application process. The application can be found on the IRS's website.
1150801
If they have already contacted you regarding the money, there is no statute of limitations on collecting.  Howefver, they have three years from the date you filed your return to examine your returns.  Once they have done that, they can take their time.  However, if they beleive you have committed fraud, they can audit EVERY tax return you ever filed.\nIf you owe them, you will have to pay.  Bankruptcy won't help since taxes are excluded from debts that get discharged.  Your best bet is to try to work out some payment plan that you can afford.  If they agree to it, DON'T default or they can demand the entire debt to be paid at once.  FYI, state and local taxing authorities make the IRS seem like kittens so don't mess around.
327390
I'm a tax preparer and in order for me to answer that question i would need to know what state you owe. I live in California, and in this state our state tax is so low we don't have a form to fill out we call the tax franchise board and make payment arrangements.
31142
You do not need an attorney.  But do go to a cpa.  Not everyone is required to file.  If the IRS has not contacted you about this then you most likely get a notice from them regarding interest and penalties.   The penalties are based upon the amount owed and time frame.  A CPA will work to push the income to later years so that the penalties and interest will be lower.\n\nA CPA may even be able to get the penalties waive, but not interest.  THis alone is worth it 10 times over.
112475
H&R Block can answer that. Or call your State tax commision.
343887
The IRS will settle with you.  I would ask them for a settlement amount to get a jumping off point and then if it's too much, counteroffer.  If they don't accept, then let them know you plan on hiring an attorney but would rather give the money to them.  If they still don't come down, hire an attorney that takes payments.
447431
If you are sure you are getting a refund then yes you can file late.  Keep in mind that the IRS will not give you an interest on the refund and that they have your money.  Unlike if you owe, they charge interest and penalties it doesn't go the other direction.\n\nWhy would you want to let them keep your money anyway?  You earned it.  File as soon as possible to get it back.
923527
You are required to file a return if you have income, whether you owe taxes or no.  The Government wants you to report income and THEY will decide if you owe taxes.  A tax return is not just a request for a "return", you report earnings on tax return and figure amount owed.  I'd plead ignorance and get in touch with IRS.at the nearest office.
1070596
Can he go to jail?  Yes.\n\nWill he?  Probably not.  You should probably have him go talk to a tax preparer and have them calculate what would've been filed on the previous 4 year's tax returns.  \n\nIf the return would've resulted in a refund (as is most likely the case when you have something withheld) then he/she will not be penalized for not filing the return.  \n\nThe IRS will only charge interest and penalties on returns where the taxpayer would've owed THEM money, not the returns where THEY owe the taxpayer money.\n\nHe/she should track down his W-2's for the last four years and have a preparer complete the returns for him/her.  It may end up that they can file a return and get their refund that they never filed for (for up to 3 years of returns)!\n\nHope that helps!
593996
You can request an Offer in Compromise(OIC). When you file an offer in compromise, you are asking the IRS to accept a fraction of what you owe on your taxes and to write off the rest of your debt. IRS offer a do-it-self kit free. Here is the link:\n\nhttp://www.irs.gov/pub/irs-pdf/f656.pdf...\n\nZhicheng Lai\nEnrolled Agent
288069
That's why whenever you apply for a home equity loan....they don't really tell you.  They alway say consult your tax advisor.\n\nTechnically it's not legal, but it's in a "gray" area of the law.  \n\nI know of tons of people who have taken the interest off their taxes and haven't been challenged.  I would not worry about it.
405042
No, you will owe tax on them unless you have capital losses to balance them. Either way you have to file
551788
You have to call the IRS office.
603681
Call the IRS and ask.
198701
I researched this a little bit.  \n\nIf the creditor decides to write off your debt, he can report it on his taxes as a "bad debt".  They are also required to fill out a 1099C. Normally a copy goes to bot the IRS and the consumer.  But many times the collector "neglects" to send you a copy.\n\nNow what?  You file your taxes, the government sends you a bill for the unpaid tax and/or any penalties.\n\nWorse...it could trigger an audit.\n\nDo the credit card companies send in 1099's regularly?  Don't know, still searching for data on it.
384996
you can call the IRS, they will tell you