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Late Payment Question

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theedanimal

Junior Member
What is the name of your state? CA

Well, I've messed up pretty good, but I'm trying to figure out what the best path to take at this point is. In 2005 I worked for a mortgage company, and after a talk with a co-worker, decided to claim 9 to reduce taxes taken out, and would pay them at the end of the year. I did this for about 3 months, and then ended up getting layed off from the company. Tax time came around (2006) and I did not have the money to pay what I owed (Appx 1500.00) so I filed an extension.

Basically, at this point, I still have not paid this, and I know that fines/penalties are building, but I'm basically clueless as to how I should proceed at this point. Should I file as normal this year, and they will let me know how much I owe from last year? Should I file twice right now, once for the past due, and once for the current taxes? How do I know what my total amount owed is at this point? Sorry for all the random questions, I just don't know where to start. Thanks in advance for your help.

Daniel
 


S

seniorjudge

Senior Member
Daniel, I am not a tax attorney or tax CPA.

But I do know that if you hire a tax attorney or tax CPA, they can help you legally get extensions.
 
LdiJ

LdiJ

Senior Member
theedanimal said:
What is the name of your state? CA

Well, I've messed up pretty good, but I'm trying to figure out what the best path to take at this point is. In 2005 I worked for a mortgage company, and after a talk with a co-worker, decided to claim 9 to reduce taxes taken out, and would pay them at the end of the year. I did this for about 3 months, and then ended up getting layed off from the company. Tax time came around (2006) and I did not have the money to pay what I owed (Appx 1500.00) so I filed an extension.

Basically, at this point, I still have not paid this, and I know that fines/penalties are building, but I'm basically clueless as to how I should proceed at this point. Should I file as normal this year, and they will let me know how much I owe from last year? Should I file twice right now, once for the past due, and once for the current taxes? How do I know what my total amount owed is at this point? Sorry for all the random questions, I just don't know where to start. Thanks in advance for your help.


Daniel
Click to expand...
I would recommend filing the 2005 return immediately, then wait about 4 weeks for it to be processed, and then file your 2006 return. That will allow any 2006 refund that you have to offset some or all of your bill for 2005.

Once you file your 2005 return, the IRS will tell you how much you owe.
 
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theedanimal

Junior Member
One more thing I should throw in, is that I was married in July of 2006. I was thinking that we will be filing a joint return this year. I would prefer to not tie her down with this, and would like to take care of it myself before that happens... I guess I'll just send my 06 taxes in asap, and pay it before 07 taxes come around...
 
LdiJ

LdiJ

Senior Member
theedanimal said:
One more thing I should throw in, is that I was married in July of 2006. I was thinking that we will be filing a joint return this year. I would prefer to not tie her down with this, and would like to take care of it myself before that happens... I guess I'll just send my 06 taxes in asap, and pay it before 07 taxes come around...
Click to expand...
You do realize that your choices for filing for 06 are married filing separately and married filing jointly? You do realize that if you send in your 06 return and get a refund, and THEN file your 05 that the IRS will be much grumpier than if you file 05 first and then allow part or all of your refund to cover 06?
 
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