TOO LATE OR NOT TO FILE TAXES

[Urge To Race 2]

Rin and John, you are K-3, so it is very unlikely you will get transferred to CSC and approved without an interview. That is mainly for K-1 filers. So that wish for that not to happen is sure to be granted.

Its also a good thing that you filed for that extension. Had you filed with a W7 for your wife (to use an ITIN), you could amend the return, but they would not generate a stimulus check for you based on that. IRS has decided that people like me who used ITINs can wait until 2008 returns are filed to get the money under Rebate Recovery Credit. (Really the 2007 rebate is an advance on a credit for 2008, which we will get when our spouses have SSNs). By filing the extension, you will get a stimulus rebate check issued once you file. I thought about waiting to, but I decided it was better to file, so I would have a joint tax return with my wife instead of 2006 single return and a 4868. Good evidence to have I thought. I figured I could wait out until next year for the rebate.

I filed an extension and we are due a refund. My reason was the stimulus rebate. To receive the stimulus you need SSN's. To get a SSN, a K-3 needs EAD. We filed AOS and EAD late last month. Should have EAD by mid-Sept, SSN by end of Sept, and file taxes by Oct 15th (when extension ends). By waiting to file taxes, the stimulus rebate for us is $2,100. If I had filed taxes prior to April 15th, the rebate would have been $0 (although I could have filed an amended return once the SSN's were obtained).

Originally, we were going to wait until Aug/Sept to file AOS so that Rin's GC would be 10yr instead of 2 yr (2nd wedding anniversary is in October). Now we are probably the only one's hoping that our June AOS application does not get transferred to CSC and approved without an interview!

Now not filing taxes for three years? Yikes!

[Urge To Race 2]

Not correct. Form 4868 grants automatic 6 month extension until October 15 for most people. It is only 4 months if you are out of the country (live and work outside US and Puerto Rico).

For individuals it is a 4 month automatic extention until AUGUST 15... If people need more time they need tio request a second extention for two add'l months. The caveat is that the second extention is NOT automatic and the taxpayer needs to provide a reason as to why.

A person cannot receive an extention of time to cover three years of returns. Also, if any of the previous years returns end up in a deficit (and thus classified as "failure to file") then all subsequent extentions for years after are void and any return that is in a deficit situation is subject to in addition to standard underpayment penalties but also failure to file penalties (quite onerous BTW). If you are in a refund situation then things are so much better when trying to clear up "sins of the past".

The taxman is not someone to play games with.

[payxibka 10,045]

It used to be only 4.... I wonder when that changed? I see now it changed in 2005

Edited August 8, 2008 by fwaguy