topic Re: late filing in Get your taxes done using TurboTax

late filing

b4ugosmile — Wed, 16 Oct 2019 05:21:24 GMT

if i paid what I thought i owed in April, but need to call my financial advisor tomorrow about a Roth contributions, is is better to wait and file a day late or file tonight and do an amendment?

Re: late filing

Mark-S — Wed, 16 Oct 2019 05:36:32 GMT

A contribution to a ROTH IRA will have no impact on your tax obligation. So if you want to e-file, you'd better do it immediately (it is 10.30pm here in California). Now if you meant a contribution to a Traditional IRA, that would be different. Actually, no it wouldn't, sorry. Because you couldn't possibly deposit the contribution by midnight 10/15/2019. My suggestion is to e-file immediately. Then amend if there is something that could change your obligation. But I don't think there is unless you've got NOL being carried forward from a prior year.

Re: late filing

b4ugosmile — Wed, 16 Oct 2019 06:12:38 GMT

thank you, i just filed, i will call my financial advisor and make adjustments, my mom passed away in 2016, things got complicated but its filed now and I can always make the correction. I think we did not contribute to a roth due to the financial restriction, but for the life of me I could not find out that info on my financial site, i called them in April now wondering if it got done. So now I will just have to fix the ROTH or IRA thing, but someone else said that should not affect my refund. Thanks so much for responding

Re: late filing

22summertime16 — Thu, 16 Jul 2020 06:09:41 GMT

I ended up submitting my taxes after 12.00. I am not getting a refund nor am I paying in. Will I be penalized?

Re: late filing

DawnC — Thu, 16 Jul 2020 06:20:36 GMT

Only if you owe taxes. If you do not owe tax, you will not be penalized. @22summertime16