Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 01-12-2014, 06:24 AM
Junior Member
 
Join Date: Jan 2014
Posts: 2
late returns

I'm in the process of filing tax returns for 200-2004. I've already ordered and received the account transcripts from the IRS. Some of the info on the transcript don't include all of the info I have. Like a part-time job I had as well as a home I was purchasing as owner financing. Am I able to file and my documents don't match the transcript?
Since the IRS no longer has my documents, does this make proving my case easier?

Thanks



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 01-12-2014, 03:23 PM
Moderator
 
Join Date: Oct 2010
Posts: 5,231
Quote:
Originally Posted by sean6079 View Post


#1;I'm in the process of filing tax returns for 200-2004. I've already ordered and received the account transcripts from the IRS. Some of the info on the transcript don't include all of the info I have. Like a part-time job I had as well as a home I was purchasing as owner financing. Am I able to file and my documents don't match the transcript?



#2;Since the IRS no longer has my documents, does this make proving my case easier?

Thanks
#1;The tax account transcript shows basic data from your return, including marital status, type of return filed,AGI and taxable income. It also includes any adjustments you or we made after you filed your return. The tax account transcript is generally available for the current and past three years. If you discover that you have filed a 1040, 1040A or 1040EZ with incorrect information, you will need to use 1040Xto correct the mistakes.An amended tax return generally allows you to file again to correct your filing status, your income or to add deductions or credits you may have missed. If the changes involve another schedule or form, you must attach that schedule or form to the amended return. Your state tax liability may be affected by a change made on your federal return.



#2; the IRS keep your tax returns forever the returns are shipped yearly to a storage and microfilmed, but actually keep the actual return for about 7 years. As far as how long they keep your tax returns, with the IRS's access to computer storage, I would say they keep all of them in their permanent records.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #3 (permalink)  
Old 06-12-2014, 02:42 PM
Junior Member
 
Join Date: Jan 2014
Posts: 2
late returns

I filed taxes for years 2000-2004 last year. I spoke with my ex about claiming our son for years 2000 and 2001. She didn't think she filed for him those years. She isn't going to an income statement from the IRS. I would like to reduce my penalties.
Does anyone know what are the consequences if I amend my taxes for those years with the IRS???
I've heard an audit and some have said a letter saying I can't claim him.

That was 14 years ago, she could have forgotten or maybe she didn't file.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #4 (permalink)  
Old 06-12-2014, 11:05 PM
Moderator
 
Join Date: Oct 2010
Posts: 5,231
Quote:
Originally Posted by sean6079 View Post

That was 14 years ago, she could have forgotten or maybe she didn't file.
For a credit or refund, you have three years from the date you filed your original return to submit Form 1040X (including extensions) or two years from the date you paid taxes. Whoever has the child more than half the nights of the year can legally claim him. If that is not you, you need to , get her to sign form 8332. The IRS doesn't believe in 50/50 joint custody. It goes by actual nights and where the child sleeps that night. If your wife had physicaly custody fo 183+ nights per year (184+ for 2012), you can only claim a child if you have a SIGNED 8332 form to attach to your tax return. No where in your post do you mention who has physical custody and the form 8332. you need to amend your 2000/2001 returns. The form 8332 passes through the exemption and the child tax credit, but NOT eligibility for HoH or EIC. As the child lived with her, you can if she gives you a signed form 8332 releasing the claim to you. So, you might have to negotiate with her to get her to give you an 8332.
NOTE; However, as you know it well, you , as an individual taxpayer who has failed to file a tax return, are entitled to claim a refund by filing within three years from the original due date of the individual income tax return. For example, if the original due date was April 15, 2001 (for tax year 2000), the taxpayer would have three years, until April 15, 2004, to file a tax return and claim a refund. The IRS does not levy a late filing penalty when the individual income taxpayer did not have an obligation to file and is only filing to claim a refund.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
How does New Jersey State impose penalties for late filing of NJ Partnership tax returns? TaxGuru Limited Liability Company 0 10-03-2012 06:06 PM
What arguments can be put forward to waive the Late Filing penalty for a Multi Member LLC tax return that was filed 10 months late? PeterAccountant CPA Forums 1 02-08-2012 07:54 PM
Effective 2011, all paid tax practitioners who prepare returns for partnerships are required to file all partnership returns Form NJ-1065 by electronic means. TaxGuru New Jersey 0 01-31-2012 05:08 PM
Under what circumstances will the IRS abate Late filing penalties for a Late Filed Partnership Tax Return? TaxGuru Limited Liability Company 0 11-16-2011 11:08 AM
Can I avoid late filing penalties if my 2006 partnership tax return is filed late? Redden Limited Liability Company 0 09-29-2008 07:58 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning