New Taxpayer

Today TaxMama hears from Jerad in California who wants to know. “What would you advise someone who is a 23 year-old student who never had a job until late 2008, but didn’t pay taxes until today? I would like to get things straight and have it done.”

TaxMama answers a question on Tax

Hi Jerad,

Welcome to the world of taxpayers.

Sorry you have to join. It’s nice to be able to avoid the working and taxpaying world as long as possible.

What should you do about 2008? Simple.

File the tax return.

If you didn’t put the tax return on extension, you may face some penalties.

But if you don’t owe any money, there won’t be any penalties. File ASAP.

If you need a good tax professional, you can find one by using the Find an Enrolled Agent link at www.naea.org or the Find a Professional link at www.natptax.com .

And do a little reading. Call IRS at 800 TAX FORM and ask for a copy of Publication 17 or download it from the site http://www.irs.gov/pub/irs-pdf/p17.pdf .

It will give you a good idea about what your responsibilities and deductions are!
And remember, you can find answers to all kinds of questions about catching up and other tax issues, free. Where? Where else? At TaxMama.com.
[Note: If you were subscribed to the e-mailed TaxQuips, you’d be getting other exciting news and tips by e-mail, that never appear on the site. Please click on the subscribe link and join us.]

File Download (0:00 min / 0 MB)

Leave a Reply