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Topic: I forgot to do my tax return  (Read 2089 times)

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  • JennyI
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I forgot to do my tax return
« on: June 15, 2009, 08:45:57 AM »
I just realized today is the deadline. Am I going to be in major trouble?
I should not owe any tax, am I liable to a penalty?
I really cannot believe I forgot. I am so bummed!
Good things come to those who wait...a really long time.


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Re: I forgot to do my tax return
« Reply #1 on: June 15, 2009, 09:30:07 AM »
I think as long as you don't owe them anything then you are fine.

Just get in it asap!
Democrats and Republicans - fiddling while Rome burns.


Re: I forgot to do my tax return
« Reply #2 on: June 15, 2009, 09:40:51 AM »


  • JennyI
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Re: I forgot to do my tax return
« Reply #3 on: June 15, 2009, 09:59:23 AM »
I am 99% positive I do not owe, I never do.
I am going to take a very long lunch and get it done today and in the post.
Can't believe I am so disorganized this year  :o
Good things come to those who wait...a really long time.


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Re: I forgot to do my tax return
« Reply #4 on: June 15, 2009, 11:14:34 AM »
As long as you don't owe anything you are fine.  They told me in person that instead of applying for an extension I could just not file on time and it would be fine.  He said they only applies penalties if you owe them money.  I applied for an extension anyways to be safe, but I am certain you are fine.


  • JennyI
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Re: I forgot to do my tax return
« Reply #5 on: June 15, 2009, 01:14:27 PM »
Thank goodness for Turbo Tax, I am running to the post office now!
Good things come to those who wait...a really long time.


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Re: I forgot to do my tax return
« Reply #6 on: June 15, 2009, 01:32:57 PM »
You can still be subject to separate penalties for late filing of TD F 90-22.1 whether or not you owe tax.  This form needs to be RECEIVED by the IRS by June 30th if applicable.


  • JennyI
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Re: I forgot to do my tax return
« Reply #7 on: June 15, 2009, 03:49:30 PM »
You can still be subject to separate penalties for late filing of TD F 90-22.1 whether or not you owe tax.  This form needs to be RECEIVED by the IRS by June 30th if applicable.

What is TD F 90-22? I have never filed that before. Am I opening a can of worms?
Good things come to those who wait...a really long time.


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Re: I forgot to do my tax return
« Reply #8 on: June 15, 2009, 03:54:33 PM »
What is TD F 90-22? I have never filed that before. Am I opening a can of worms?

It's the form you have to file if you have (or jointly have) a foreign bank account where the balance goes over $10,000 at any point during the year.  I've never filed it since none of my accounts in the UK have ever had over $10,000 in them, but if you have an account in the UK that went above that figure in 2008, you are required to file the TD F 90-22 form.
Now a triple citizen!

Student visa 9/06-->Int'l Grad Scheme 1/08-->FLR(M) 7/08-->ILR 6/10-->British citizenship 12/12


  • JennyI
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Re: I forgot to do my tax return
« Reply #9 on: June 15, 2009, 04:20:12 PM »
Oh bu**er, this applies to me...do I have to send it with the 1040 or can I send it separately?
I am sure I have had to do this in years past but never knew it  :\\\'(
Good things come to those who wait...a really long time.


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Re: I forgot to do my tax return
« Reply #10 on: June 15, 2009, 05:04:13 PM »
If you reported all of the income on previous returns you have until 23 September to file copies of the returns and the missing FBARs with the IRS to avoid the minimum $10,000 a year penalties or the 24 year potential jail time.  See Question 9: http://www.irs.gov/pub/irs-news/faqs.pdf


Re: I forgot to do my tax return
« Reply #11 on: June 15, 2009, 08:18:47 PM »
If you reported all of the income on previous returns you have until 23 September to file copies of the returns and the missing FBARs with the IRS to avoid the minimum $10,000 a year penalties or the 24 year potential jail time.  See Question 9: http://www.irs.gov/pub/irs-news/faqs.pdf


I've been filling these in, but am I supposed to be paying anything if it over a certain amount? 


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Re: I forgot to do my tax return
« Reply #12 on: June 15, 2009, 09:47:47 PM »
The TD F 90-22.1, 3520, 3520-A, 5471, 8865, 8858 etc are information returns.  There is no tax payable but there are significant penalties if these are incomplete, incorrect or late.



  • JennyI
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Re: I forgot to do my tax return
« Reply #13 on: June 16, 2009, 11:25:27 AM »
If you reported all of the income on previous returns you have until 23 September to file copies of the returns and the missing FBARs with the IRS to avoid the minimum $10,000 a year penalties or the 24 year potential jail time.  See Question 9: http://www.irs.gov/pub/irs-news/faqs.pdf


So I have to voluntarily tell the IRS that I have a simple joint savings account with my husband, just so the IRS can ascertain whether or not I am using the account for criminal purposes? Which I am not. Sweet  >:(
Good things come to those who wait...a really long time.


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Re: I forgot to do my tax return
« Reply #14 on: June 16, 2009, 12:06:47 PM »
So I have to voluntarily tell the IRS that I have a simple joint savings account with my husband, just so the IRS can ascertain whether or not I am using the account for criminal purposes? Which I am not. Sweet  >:(

That is why we decided not to have joint accounts.  There is no way my savings are going above 10,000.


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