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Didn't owe didn't file

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Valued Contributor

Didn't owe didn't file

I did not file state tax as every year I got a small refund , now I know how horrible that was. Just got a cancelled DL and a lien notice even tho I was due a refund for every year
Message 1 of 10
9 REPLIES 9
Valued Member

Re: Didn't owe didn't file

Should be easy to fix. They filed an SFR or substitute for return. Basically they file a return for you that will incur the most tax liability. No deductions and 1 dependent and now it's up to you to file all the returns with the proper deductions and dependents to get it corrected. Good luck getting money back if it's more that 3 years old. 

 

Don't procrastinate, get your docs together, head to a cheap accountant and have him get the missing returns processed and filed WITH a receipt showing it got delivered. 

Message 2 of 10
Super Contributor

Re: Didn't owe didn't file

What impact does that have on your FICO scores?

Message 3 of 10
Valued Member

Re: Didn't owe didn't file

Hopefully no impact under the new CFAB.

Message 4 of 10
Valued Contributor

Re: Didn't owe didn't file

BBS waiting on the lien to be be filed , no taxes owed but the grand sorry state of Louisiana allows a 500 penalty plus 25 %of tax even if I was due a refund (which I was)
Message 5 of 10
Valued Contributor

Re: Didn't owe didn't file

Anticipate 100-200 point drop and my life is over
Message 6 of 10
Valued Contributor

Re: Didn't owe didn't file


@Sbrooks1 wrote:
Anticipate 100-200 point drop and my life is over

If I were you I would move heaven and earth right now to stop that State tax lien from hitting your reports!

 

State tax liens are very, very, very, very difficult to have removed once they hit your reports.

 

It took me and my attorney 19 months to pay my 2 State tax liens and JUST HAVE THEM REPORTED TO THE CREDIT BUREAUS AS PAID with the State of Ohio!

 

Yeah, don't mess around with tax liens. Act now!


Starting Score: EQ 653 6/21/12
Current Score: EQ 817 7/10/19 - EX 802 7/13/19 - TU 815 6/03/19
Message 7 of 10
Valued Contributor

Re: Didn't owe didn't file

That's my plan, but not sure how
Message 8 of 10
Valued Contributor

Re: Didn't owe didn't file

Sorry that happened to you. A big painful life lesson, don't mess with uncle Sam.

 

Good luck.

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Message 9 of 10
Established Contributor

Re: Didn't owe didn't file


@Sbrooks1 wrote:
I did not file state tax as every year I got a small refund , now I know how horrible that was. Just got a cancelled DL and a lien notice even tho I was due a refund for every year

I dont know about LA and Napoleanic Code, but Its hard to argue this entertaining documentary about the income tax doesnt effect the OP, or most Americans:  Aaron Russo's "America: Freedom to Fascism"  

 

 

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Message 10 of 10
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