HellBill » Hell Bill Area: » Bill Collectors » I hadn't paid my state taxes for three years. What penalties cost

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  #1 (permalink)
: I didn't know that I had to pay state taxes operating my home business. I paid this year and it was $2300. 2009-2011 I didn't pay and had about the same profit so I figure around $7500 I owe them. They have not cashed this years payment yet so I assume they are figuring what I owe right now. How much interest and penalties will I owe roughly?

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  #2 (permalink)
: self employment is reported on your 1040 and that is imported to your state return, your first concern in the Federal on your lack of reporting your self employment income
and depending on how much, what your status is, etc. how much the additional tax, the penalties and the interest, which is added daily
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more..
  #3 (permalink)
: Any state taxes that you would owe to your state would be a state income if your state does have a state income tax.
And the state and local sales and use tax amounts that you are supposed to be registered for with your local taxing authority to be a tax collector for them when you are selling things form a location in that local taxing district and you will need to go to their office and let them show you the forms and the schedule that you would have to use for that purpose at that time.
NOW NET PROFIT from your schedule C and SE business operation and your self employment taxes social security and medicare taxes plus any federal income tax would be owed to the FMS United State Treasury Department for each tax year plus all of the penalties and the interest that will be due on the past due amounts that are accumulating and getting bigger with each day that the amount does NOT get paid off in full OK.
ONLY they the FMS and the IRS will know for sure how much the $$$$ amounts might be and they will be sending you a bill for those amounts also OK.
Hope that you find the above enclosed information useful. 05/05/2013
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