Mar
MY hubby and I married in 2006, somehow he was moving from Kentucky and lost his W2's it took 4 months to get his company before to re-print those w2's .. so we filed an extension.. but never filed as life just took us by surprise ( lost the apartment, bought a house, medical problems..etc..) so can I still file 2006 even thought I havent filed 2007 and can we file those at the same time? or does 2006 need to be filed first? what is the fees for filing late? penalties? just trying to see how much we would owe, on top of what we will pay in!?!? anyone ever been here? ( its a bad position!.. I know to file, but really life took the worst turn for us!) and Now we bought a house in 2007, think we will get more back? ( prolly not, but worth asking.)
Thanks!
Answer:
well you absolutely want to file your 2006 return not only because you're probably accruing interest and penalties if you had a balance due, but the IRS will hold any refund that they owe you for 2007 until your 2006 return is filed. If you say you just bought a house in 2007 then you have all kinds of extra groovy deductions (mortgage interest, points paid, property taxes, charitable contributions, state tax withholding etc etc — are all things you likely weren't able to otherwise deduct before) that you'll get to take and you very will might be expecting a nice refund. I highly recommend going to a HR Block or a CPA or just someone professional to do the returns simutaniously so that they are done right the first time and all your affairs are set straight.
Answer:
You can file the 2006 return at the same time as 2007 although you are right, not on the same forms. If he has a refund, he won't be penalized and will get his refund. If he owes, there will be penalties for late filing and late paying.