Made a huge tax mistake, anybody know anything about this? Recommended reading?

Discussion in 'Off-Topic Discussions' started by rickyjo, Aug 24, 2010.

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  1. rickyjo

    rickyjo New Member

    I filed an extension with turbo tax forever ago and was set to go until October, or so I thought!

    It turns out that they failed to mention that it only extends the federal return and for some inexplicable reason they assume you will still be filing your state taxes on time! I payed a good bit for that service too!

    I filed my taxes a few days ago and just discovered this by accident today!

    The state owes me money (not much), so that's a good sign, but will they take all my return away? Will they try to charge me? I'm counting on this return!
    :(

    *huge melt down now*
     
  2. Ian Anderson

    Ian Anderson Active Member

    That information should be available for the state where you file on the states tax web site.

    Personally I plan on owing $1000 to the feds every April. That way I earn interest on the money (only around $25 but it buys dinner for two). Why should I loan the govt money at no interest?
     
  3. mattbrent

    mattbrent Well-Known Member

    Suze Orman would be smiling right now!

    -Matt
     
  4. Maniac Craniac

    Maniac Craniac Moderator Staff Member

    LOL! No, they do not take your return away. They will charge you late fees, which are not usually so bad, so long as you don't owe and file within a somewhat reasonable amount of time.

    In fact, I have filed late several times and have not so much as been charged a single fee, even in the years I have owed.

    The fees, however, CAN be very steep if you owe, wait several months and they decide to enforce the whole amount on you.
     
  5. ProfTim

    ProfTim Member

    Check your state website. In Kentucky, you don't need to file a separate form unless you owe money to the state. If you are getting a refund, you just need to include a copy of the federal extension form along with your state return when you mail it in.
     
  6. rickyjo

    rickyjo New Member

    ProfTim: Huh, well I hope I don't have to do that in Colorado because I filed a few days ago.

    The first skimming of Ian's post brought out the paranoid side in me. I just saw $1000 and nearly died, I have since read the post for real and recovered.

    @ Everybody:
    Can't find any information on the state's website. Will search more thoroughly when I'm done with work today.
     

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