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How late can you postmark your income taxes before it's too late?
Wiki User
∙ 14y ago
Federal income taxes are due by April 15 if your tax year ends on December 31st of the previous year. If April 15 falls on a weekend, then the return is due by the next business day. As long as your income tax return envelope is postmarked by midnight on the due date, it isn't considered late. So, for example, if your envelope is postmarked April 16, 2010, it is already considered late.
Wiki User
∙ 14y ago
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Can you be penalized if you do not file your income taxes?
If you do not file your income taxes, you will owe the IRS 47.5% interest. For late filing, you will owe them 22.5% of the total and 25% if you don't file altogether.
When did taking deductions off income taxes begin?
well in the late 1700's I started giving out income tax and I have been giving them out for the past 400 years
If you own back taxes can you deduct payment of these taxes or its penalties or interest?
YOU CAN'T GET A REFUND "ESSENTUALLY" MONEY YOU OWE TO THE GOVERNMENT. IF YOU COULD DEDUCT IT THEN (MEANING A BENEFIT/PAYBACK FOR YOURSELF) WHY WOULD YOU BE ASKED TO PAT IT TO BEGIN WITH? To above - because a deducion doesn't equal tax (that is called a tax credit)...following your logic ----if deductions didn't help lower tax...why would any exist? == == == == The Federal tax you pay isn't deductible from your income to then calculate the tax you pay (thats completely circular thinking). You determine your income before Fed tax and pay your tax based on that income. However, State income taxes are deductible from Federal income...so if you pay back State income taxes, you probably can get a refund of the Federal tax you paid on that deductible amount. Again, obviously State income tax isn't deductible in calculating the amount of State income you have to pay tax on. It makes no difference if you pay the tax on time or late...it isn't deductible from itself. Penalties are never deductible....it's contrary to public policy that someone should get a benefit from their wrong doing. Again doesn't matter if the penalty is for late filing, or for dealing drugs, or whatever. Again, interest that isn't on the mortgage for your house, or basically part of a business enterprise, isn't deductible for anyone. Certainly not for paying taxes late or such.
Is there a fee for filing income taxes in Alabama late if you're owed a refund?
When you are due a refund and fail to file your income tax return to claim the refund amount that you are due they do not charge the penalty because if you fail to claim the amount it will eventually be lost.
Are late payment of taxes deductible?
no
How can I file my late federal income taxes?
This website I'm providing has all the possible information you'll ever need when it comes to filing your late federal income taxes: http://www.irs.gov/publications/p17/ch01.html.
Can you be penalized if you do not file your income taxes?
If you do not file your income taxes, you will owe the IRS 47.5% interest. For late filing, you will owe them 22.5% of the total and 25% if you don't file altogether.
What happens in Colorado when your taxes are late?
Colorado income taxes are due on or before April 15. When your taxes aren't paid by April 15, they're considered late, and interest is assessed. According to the website for the Colorado Department of Revenue Division of Taxation, interest is determined by the prime rate as of July of the previous year plus 3 percentage points.
Why do Post Offices in the US routinely stay open late on April 15TH?
To help the last minute taxpayers get the mailed income tax returns postmarked before the April 15 deadline for the filing of their income tax return and the paying of any income taxes that they may owe with the correctly completed income tax return.
When did taking deductions off income taxes begin?
well in the late 1700's I started giving out income tax and I have been giving them out for the past 400 years
Is it voluntary to pay income taxes?
No, it is mandatory. There is a federal income tax, and you are required to pay it when you file your taxes each April. Failure to do so could submit you to an audit from the Internal Revenue Service and you would undoubtedly have to pay late fees and penalties if it turns out you failed to pay your taxes in a timely fashion.
Where can I find a 2010 free tax calculator?
TurboTax.com can help you for federal income tax, but you're a little late on filing your 2010 taxes. Actually, you're a lot late. Better get on that.
Were there taxes in the late 1600s?
Yes there was taxes in the late 1600's
Can file 2009 taxes earll?
If by early, you mean before December 31st, the answer is no. You cannot file your income taxes in the US until that year's income tax forms become available, which is generally late December or early January. Also, you will not receive your annual forms for employment (W-2), contract work (1099-MISC), or unearned income (interest, dividends, proceeds from stock sales, etc.) until some time in January. You should not file your income taxes until you receive those forms so you can be sure to report the correct data on your tax return.
Is there a penalty for turning in taxes an hour late?
Yes. Late is late.
Not filing for income taxes?
Not filing your income taxes will have you facing a penalty by the IRS. According to legal zoom: "Well, you end up paying a penalty on the amount you owe at 5% per month (4.5 % for not filing and 0.5% for not paying). The total penalty for failure to file and pay can eventually add up to 47.5% (22.5% late filing, 25% late payment) of the tax owed. Interest, compounded daily, is also charged on any unpaid tax from the due date of the return until the date of payment" http://www.legalzoom.com/taxes/personal-taxes/what-are-penalties
If you own back taxes can you deduct payment of these taxes or its penalties or interest?
YOU CAN'T GET A REFUND "ESSENTUALLY" MONEY YOU OWE TO THE GOVERNMENT. IF YOU COULD DEDUCT IT THEN (MEANING A BENEFIT/PAYBACK FOR YOURSELF) WHY WOULD YOU BE ASKED TO PAT IT TO BEGIN WITH? To above - because a deducion doesn't equal tax (that is called a tax credit)...following your logic ----if deductions didn't help lower tax...why would any exist? == == == == The Federal tax you pay isn't deductible from your income to then calculate the tax you pay (thats completely circular thinking). You determine your income before Fed tax and pay your tax based on that income. However, State income taxes are deductible from Federal income...so if you pay back State income taxes, you probably can get a refund of the Federal tax you paid on that deductible amount. Again, obviously State income tax isn't deductible in calculating the amount of State income you have to pay tax on. It makes no difference if you pay the tax on time or late...it isn't deductible from itself. Penalties are never deductible....it's contrary to public policy that someone should get a benefit from their wrong doing. Again doesn't matter if the penalty is for late filing, or for dealing drugs, or whatever. Again, interest that isn't on the mortgage for your house, or basically part of a business enterprise, isn't deductible for anyone. Certainly not for paying taxes late or such.
