It was penalties for not filing per tomd. Plus if timely qrtly payments were not made but the person was due refunds. Do you really think you are due a refund, as in no taxes were due, if necessary qrtly were missed? Finally, we are talking a garbage man making 25k, why due you think he would need to pay qrtly estimates?My guess is that even though there were refunds ... there were possibly penalties because timely quarterly payments taxes were not made.I agree. That doesn't make sense. Remind me not to hire tomd to do my taxes!ok. So not filing is against the rule but there is no penalty. I also don't understand tomd37's comment about " But the penalties for not filing ate up the refund for the prior three years".Just because there is no penalty doesn't mean you aren't legally required to file.
I don't understand. I thought there is no penalty for not filing if one is due a refund. https://turbotax.intuit.com/tax-tips/ge ... /L3vRea27x "If you’re due a refund, there’s no penalty for failure to file." However, later in the article, it also says "You might think that because you don’t owe any money to the IRS that you don’t need to file a return. However, owing tax versus facing a filing requirement, are two separate situations in the eyes of the IRS." I am confused.
Statistics: Posted by LotsaGray — Sat Dec 16, 2023 11:34 pm — Replies 60 — Views 3125