Tax Experts
Neglected to File Last Year's Return
By Kevin McCormally, Editorial Director, Kiplinger.com
March 21, 2008
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Q: I paid my estimated taxes and got an extension but forgot to send in my return. What is my best move? -- B Kraemer
Kevin's Answer:
File your return as soon as possible. I'm assuming, since it's not the '07 deadline yet, that you're talking about your '06 return.
If you paid all necessary taxes via withholding and your estimated payment, there's no penalty for filing late. (The penalty is based on the amount owed with the return.)
If you have a refund coming, then filing ASAP will bring you your refund ASAP.
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