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Strategies & Market Trends : IRS, Tax related strategies--Traders -- Ignore unavailable to you. Want to Upgrade?

To: xcr600 who wrote (1303)3/14/2001 3:35:39 PM
From: Colin Cody  Respond to of 1383
 
There are several penalties for late filing and late paying. The penalties are usually based on the tax assessed or the unpaid taxes owed. Not filing, even if zero tax is due, is not a good idea in most cases. File and s/he get's the losses, perhaps to carryforward to better years in the future.



To: xcr600 who wrote (1303)3/15/2001 5:26:28 PM
From: Jon Tara  Read Replies (1) | Respond to of 1383
 
Why do they not want to file? No time to do the paperwork? They should file an extension, and pay any taxes that they estimate will be due.


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