Miscellaneous

[gettingfree777]

I did not file my 2022 taxes yet. I owe less than $300.

The deadline to file for an extension was 4/18?

If I am unable to file my 2022 taxes by 10/16, can I file them at the same time as my 2023 taxes? 

What penalties may be involved if I file my taxes by 10/16 or even later?

[xmasbaby0]

You cannot combine tax years and put 2022 and 2023 together.   

Each tax year has to be filed separately using the forms for the specific tax year.  They cannot be combined in any way--do not even put them in the same envelope when you mail them.  Software for past years is available back to 2019.  Any earlier years can only be prepared on paper forms by hand--and those refunds have been forfeited now.

There are no second extensions.   So.....after the October 2023 deadline you will just be late.   Online tax preparation and e-filing will close after the October deadline, so if you miss it you will need to use the CD/download on a full PC or Mac, and mail your 2022 tax returns.

If you are getting a refund, there is not a penalty for filing past the deadline.  If you owe taxes, the interest/penalties will be calculated by the IRS based on how much you owe and when they receive your return and payment. The IRS will bill you for this; it will not be calculated by TurboTax.

[RSUMan]

We take down the online TurboTax software at some point in October.  If you procrastinate past the October 16 deadline you may have to download a desktop version of our software in order to complete the 2022 return.

The penalties if you only owe $300 for late filing and late payment are not draconian.  You miss a nice dinner out.

Consider this however, in a future year you make an honest mistake and IRS wants to impose a $3,313 substantial underpayment penalty.

You are going to ask for an abatement of that penalty.  IRS looks at their records and sees you are a chronic non-filer or late filer.  This is not a bucket you want to be in.

If and when you have an IRS problem, you want to be able to say, "I have always acted in good faith to comply with the US tax laws."