Impact of IRS audit and penalty on the Naturalization process

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pmpforgc

Registered Users (C)
Hi

What are the potential implications of IRS audit of Income tax return and any penalty on the Naturalization process, assuming you have answered audits and paid anymonetary penalty or interests if imposed.

thanks
 
I think none if you have paid when they asked you for... unless if you have done something like Enron or Mayor Barry.
 
An IRS audit in itself does not affect the outcome of your naturalization process, but the results of that audit can. (ie if you are found guilty of fraud or have not filed a return to avoid taxes)
 
What if you pay any taxes and penalty due

thanks for your responses.

If in audit it is determine that you need to pay more taxes with some penalty, and if you pay that, still it affects you?
 
You can even be naturalized if you owe back taxes, but you must be able to show that you have an IRS-approved payment plan in place.
 
Extension to file tax return

What happens if you need to file an extension? Today, I received a draft of schedule K-1 on one of the stocks I own. (Actually I am losing money and did not made a penny on this stock). This stupid company mentioned that they will send me the correct K-1 in Sep so I can file my taxes by Oct 15th 2008.

I feel like I am on a catch-22 here. I do not have the correct K-1. The company informed me they will send the correct K-1 by Sep. That means I need to file an extension with IRS.

How will the IO look at it if I file an extension to file taxes?
 
Terese said:
What happens if you need to file an extension? Today, I received a draft of schedule K-1 on one of the stocks I own. (Actually I am losing money and did not made a penny on this stock). This stupid company mentioned that they will send me the correct K-1 in Sep so I can file my taxes by Oct 15th 2008.

I feel like I am on a catch-22 here. I do not have the correct K-1. The company informed me they will send the correct K-1 by Sep. That means I need to file an extension with IRS.

How will the IO look at it if I file an extension to file taxes?
Click to expand...

No effect on naturalization process as tax extension is perfectly legal.
 
I don't think it will have any bearing. Audits are normal and more often the tax man takes away some deductions brining in more taxes. If you are lucky enough to be in the tax refund income level then ofcourse that might also lessen or melt away your additional taxes that IRS may deem payable.


pmpforgc said:
thanks for your responses.

If in audit it is determine that you need to pay more taxes with some penalty, and if you pay that, still it affects you?
Click to expand...
 
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