I Paid for Turbotax Deluxe 2 Weeks Ago and Now Being Charged Again to File
Superlative
What to Do Later on Y'all've Filed an Income Taxation Extension
Updated for Taxation Year 2022 • December 17, 2022 xi:05 AM
OVERVIEW
No matter how or when you lot file your taxes, here's a guide to next steps.
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Checking federal tax extension status
If yous sent your extension in on time, it should be granted. To confirm receipt, information technology's easiest if you employ software similar TurboTax Piece of cake Extension, since you'll go a confirmation from TurboTax within 48 hours.
- If yous use the U.S. post to send your extension, you'll have to contact the Internal Revenue Service (IRS) to ask about extension status.
- Currently, you can't exercise this on the IRS website. Phone call the IRS customer service number to determine if your asking for an extension was received and approved.
Checking state tax extension status
If your state requires that you file an extension awarding separate from the federal tax extension application, yous'll take to contact the taxing authorities in your state to check on its condition. Call the taxpayer service number and ask the service amanuensis whether your papers arrived on time.
Paying any tax due
The standard tax extension allows you to file your tax return after the usual deadline. Withal, it doesn't purchase you more than time to pay any taxes yous may owe. That means that if you lot don't pay your taxation residue by the filing deadline, you'll get hit with punishment and interest.
Even if you can't pay it all immediately, pay as much equally yous tin. Penalties and interest are based on how much you owe and for how long.
- Late payment penalties are calculated at 0.five% of the unpaid tax balance per month.
- The maximum you can exist charged in late payment penalties is 25% of the unpaid taxation.
For example, if your revenue enhancement balance is $2,000:
- Penalization per calendar month = $ii,000 x 0.5% = $10
- Full possible late payment penalisation = $2,000 x 25% = $500
If you know y'all're going to be out of the land on taxation twenty-four hours, there is an automatic two-month extension that allows you to hold off filing and paying taxes without penalty, merely you lot'll all the same be assessed interest as of the solar day later the tax filing deadline.
- Interest on unpaid revenue enhancement compounds daily from the original due date of the return until the appointment y'all pay in full.
- The rate is calculated as the federal short-term interest rate, currently .81% plus 3%.
- Interest is applied daily, so for each twenty-four hours you lot're late, you'll owe 0.0082% of the balance.
For example, if you owe $2,000 in taxes and don't pay by the due date, you'll pay:
- .81% + iii% = 3.81% annual interest
- 3.81% annual interest divided by 365 days = .01%
- Penalty per solar day: $2,000 x 0.01% = $0.xx
Note: Compounding interest results in a daily recalculation of the principal amount plus accrued interest.
Filing taxation returns on time
By and large, the due date for filing your income taxes is April 15. Even so, in some years information technology can autumn on a weekend or a holiday. Therefore, the revenue enhancement deadline can change to April 16, 17, or even xviii depending on the situation.
If y'all request and are granted a federal tax extension, you lot typically have until Oct 15 to file you tax return.
- In some states, federal extensions automatically extend your state income taxation deadline.
- Other states, similar New York, require a separate extension request.
When tax extensions are rejected
Even when filed before the deadline, some tax extension requests are rejected on or afterward that date. You'll go notified in an email or letter of the alphabet from the IRS if your extension asking is denied. While the reasons backside this vary, the almost common ones are:
- Misspellings, switched numbers and other errors on the extension class
- Out-of-appointment information, like old addresses or last names that don't match up to the IRS records
In these cases, the IRS provides a window of time—typically five days—in which you may fix issues and right errors with your request in gild to file again.
Call up, with TurboTax, nosotros'll inquire you lot simple questions about your life and help you fill out all the right tax forms. With TurboTax y'all tin be confident your taxes are done right, from unproblematic to complex tax returns, no matter what your situation.
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Source: https://turbotax.intuit.com/tax-tips/tax-extensions/what-to-do-after-youve-filed-an-income-tax-extension/L9jRDNKBN
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