Reply To: How Does The IRS Late Filing Fee Work?

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#7904
Ryan1
Participant

Thank you for your reply and excellent info. A little fuzzy on the language though about “not allowing any of the standard deductions.” Does that mean they don’t actually allow THE Standard Deduction? I don’t think it could mean that. But it’s not clear from that quote.

I was able to complete my tax return without an extension. So I knew exactly how much tax was due and paid the balance with the request for extension. I owe no further tax.

There is a legitimate (but unrelated) reason that I filed for the extension and wanted to delay filing, but I’d rather not mention it yet. I would like to further delay it after 10/15 if I could, so I want to try to understand what would happen if I do to compare it to the advantages of delaying.

I’m not sure if I would lose anything if the IRS did my return. It is single with a standard deduction and I think everything was on 1099s, pretty straight forward. Maybe one small capital gain. Not much subjectivity if any. And for that same reason I don’t think the statute issue will make any difference. Nothing challengeable.

However, I generally don’t like the concept of their imputing a return and I also don’t like doing something I have never done before. But on the other hand I’m all paid up and don’t see how they could come up with anything additional. As long as it’s not illegal, which I would never consider, might still be an option.

  • This reply was modified 11 months, 3 weeks ago by Ryan1.