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| *Loan,banking and credit>>>income tax |
What should you do if you forgot to file your state income taxes from two years ago? |
What should you do if you forgot to file your state income taxes from two years ago? Get the forms for the year in question and file the return. If you owe tax they will assess interest and penalty. If you are due a refund you need to get the return filed before three years are past at which time you will lose the refund. If you don't file there is no statute of limitations running and they can come after the return at any time in the future. I failded to do my first job income tax. Its been over 10 years. I still think about it everytime I do my taxes. Nothing has happend to me so far. I too would like to know. You forgot for two years? File a return this year and be prepared to pay the penalty's. I'd listen to 8ball. The IRS will catch up with you sooner or later. And you don't want it to be later. The fine will go up yearly. If you don't have a history of paying income taxes prior to two years ago, then they probably wouldn't have a red flag for you. If you pay income taxes regularly and then all of a sudden missed a year.. then run.. run to your state tax office waving your checkbook. Better to get it over with. Go directly to your tax preparer and have the problem fixed. It's as simple as that, but the fees by the preparer are going to be high, and you might even get fees from the IRS. Be sure to not forget from now on, because its a pain in the butt. If you filed federal but not state, but had income enough that you were supposed to file state, they will probably catch up to eventually. Your best bet would be to go ahead and file even though you're late. If you don't owe anything, there might not even be any penalty. |
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