'He always handled our finances but became ill a few years ago,' says a wife who is worried the IRS will penalize her.
Dear Tax Guy, My husband is 81 years old and I am 68. He was a banking professional for many years and retired in 2007.
Will the IRS take into consideration that my husband was ill and I had no idea that our taxes had not been filed? Will we be penalized with a huge amount? I thought it was only last year’s taxes which weren’t filed and would never have let it go this long. He always assured me everything was alright and said “don’t worry about it.”Dear Picking, Most of all, I hope your husband’s health improves and I hope you are hanging in.
The catch is people have three years to file a return before the Treasury Department snatches away a refund that would have been coming their way. This year, the general deadline to file a 2019 return and claim a refund is July 15, an IRS spokesman said. The IRS says current compliance includes filing an extension, which you’ve done. It also includes payment of taxes or a repayment plan for “all the taxes due for years other than the one you’re requesting relief for.”
“Death, serious illness, or unavoidable absence of the taxpayer, or a death or serious illness in the taxpayer’s immediate family, may establish reasonable cause” on the obligations to timely file and pay taxes, according to the IRS.
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