January 29, 2005

• File your returns.
• Quickly. There's a time limit.
• In case this isn't clear to Weezel (because this is one strange question), if you owe money to the IRS and haven't filed, they don't just say "hey, hand it over". They effectively file a tax return for you. Then they ask nice. Then they confiscate your ass. But that's another topic. Filing your tax returns is the paperwork you must do to get your refunds. Otherwise, you don't get them. You're also technically supposed to file always, but they don't enforce if they owe you. They're happy to keep the money and they have bigger fish to fry.
• I think you'll need to do your homework on this, weezel, but I am pretty sure you'll have to file 1040's for past years using backdated PDF forms on the IRS website or from your local IRS office. For each one, near the total line, you'll figure your owed money or refund, and they should disburse from that. A sizable hunk of your refund is going to go toward the penalties for filing late, though. These will either be figured into the refund or will arrive months from now in the mail as a notice. I think you might want to visit your IRS office for help.
• No penalties for filing late if they owe you. But if you owed them for one or more years, even if they owed you for others, you get penalized & may come out be-hind.
• I quit filing about ten years ago
• I actually went through this myself. Do yourself a favor and find a local tax filing company (think H&R block), and get them to do the whole thing. In my case, it cost me $40 and I got over $2K back. Worked out, and saved me lots of hassle. And do not wait to do this. Beat the April rush, or else you'll get a tired and cranky filer.
• I'm in the middle of a sucking hole because I screwed up and didn't file taxes for five years. DON'T DO THAT--IT'S REALLY STUPID! And to think I even knew better. I got overwhelmed one year on the farm accounts and just continued to let it slide. You can only go back three years on claims if they owe you, but if you owe them, it's forever. You pay the back taxes, you're penalized a fair amount, and you PAY A SHITLOAD OF INTEREST on top--usery--as bad as a credit card. When I filed, that put the big searchlight on everything, and all of the sudden they were wanting $16,000 in back taxes. When THEY figure it, it doesn't benefit YOU! The accountant says we were stupid for the first set we missed, as he figured there was several thousand in refund--which we won't get or even get credit for, since it's past their deadline. He's managed to knock off nearly all we owed the IRS, but we were screwed when we were overseas, as what we were told by the personnel department that the civil service doesn't normally pay taxes if you're working overseas, so none was held out, but Turkey is an exception, (or so they say) so we'll wind up paying state taxes of over five grand. (sucks to be me) Don't mess with the gummint, they'll getcha every time.
• i am SO thankful that i'm not the only one!!!! i stopped filing state taxes when they stopped mailing me the forms. they usually owed me anyway. well, now my federal tax refund is being confiscated. sigh. i've got all my info together to file, but i just can't make myself do it. current motivation is that i'm getting laid off from my job, and i sure could use the money. plan is to call the state office, make an appointment, and go sit down with them until i get it straightened out. double sigh.
• So, the tax preparer may think you're odd, but this isn't uncommon. Get together as much of the paperwork as possible, get referrals to a good tax prep person, H&R Block or whatever, grit your teeth, and get it done. You will feel so relieved afterwards. Post to MoFi, so we can all congratulate you. BlueHorse, you have my sympathies. I've been in a pissing match with the IRS. They are ratbastards, and they will totally screw you. Don't mess with them.
• turbotax.com makes it so freaking easy there is no reason not to file. it costs $20 and they know all the right questions to ask. I have paid less than 1% tax the past 3 years. I've never used it for an itemized filing, so that might be more complex, but for a simple return, including student loans and school payments, it takes about 30-60 minutes. plus, you can go all the way through it for free and figure out if it makes sense to do it or not. Also, i thought there was a 7 yr cut off for money you owe them. on preview: geez, it's even on sale this year. $10 if you do it before 2/13
• Also, i thought there was a 7 yr cut off for money you owe them. No, as the man said: it's forever.
• Back in the salad days of the internet boom I made a good deal of dough (not like the people who REALLY made a lot of dough, but more than I've been making since). All of it freelance, hence, I didn't get any taxes withheld. Woo! I was so rich! Can you see where this tragic tale ends up? Now, finally, 4 - 5 years later I am back in the black. With penalties, interest and fees I ended up paying maybe 2x what I would've had to had I just been sane at the time. Not to mention how the money I owed would have SEEMED like less then because I made more. And honestly, hearing horror stories occasionally, I feel lucky to have had it all end up how it did. My advice: get yourself above board, and quick, regardless of who owes what to who. Best of luck.
• If you qualify, the IRS will let you use Free File. I belive it's TurboTax based. And, yes, I've used Turbo for itemized returns, and it does a great job.
• Hectorinwa - the 7 year limit is the amount of time they can audit your returns is they choose to. You're supposed to keep 7 years worth of tax records, just in case they call your name.
• Make that "if they choose to."
• http://www.americanfreepress.net/html/irs_overtaxed.html
• I've used Completetax.com for the last two years, because it works with Firefox on Linux, unlike this year's Turbotax on the web. I already filed this year ($500 in refunds, baby). But if I had to do 10 years' worth of taxes, I'd probably just get a professional.
• >$500 in refunds, baby Yo, dirigibleman. If I were you I wouldn't be so excited. If you get $500 back, it just means you overpaid $500 in the first place. The best situation is to have a zero balance, or to owe as much as you can without hitting a penalty...so that you get the money to use all year and not "the man." And of course in owing, it assumes that you'll have the money available come tax day to pay comfortably and preferably in a planned way. And just to agree with the masses, computer software for tax prep rocks if you're anything passed a couple of basic forms, even just to get the organizational and math help it provides. Especially since it's as cheap as free nowadays.
• Nonbinary, you're absolutely right, but for us po' folks, getting that $500 seems a windfall. And really, how much interest is that going to earn over the year? TurboTax is ok, and much cheaper than an accountant, but you might not get as much back. We are going to save a pot-load that we wouldn't have gotten had I filed with TT. YMMV REPEAT: Don't trust the state or feds figuring. They WON'T give you any breaks (which you may be entitled to) Ask questions, keep an open line of communications, that way they don't immediately rush to garnish your wages or put a lien on your house. (oh, and a gal I know had 100% of her wages garnished) Way scary. Son went to Hewett-Jackson: cost $126. DON'T file electronically through them and ask to have it expedited: there's added fees on top. Normal EF is inclued, and is plenty fast. MonkeyFilter: Don't mess with them. MonkeyFilter: Can you see where this ends up? MonkeyFilter: If I were you I wouldn't be so excited.
• Yo, dirigibleman. If I were you I wouldn't be so excited. Yes, I know that, but b [I deleted (a), as it turns out it's not true]) The interest I'd have earned would have been small to none; c) I'd probably have spent it frivolously, anyway; and d) I'm making a big move soon and I'll need that $500.
• If you qualify, the IRS will let you use Free File. I belive it's TurboTax based. Actually this year a number of online filing programs are free for all users, including H&R Block, TurboTax, TaxACT, and others. The caveat is that you have to go through the IRS free file page (linked by path) to get started.