1, Is it possible to fill 07 & 08 tax returns together?

2, filling 07 tax return now will be subjected to some penalties and what are those penalties.

1) You CAN mail both returns in the same envelope, but I do not recommend it. The IRS themselves say submitting multiple returns in one envelope results in a MUCH nigher possibility that one or more of the returns will get lost.

2) If you are due a refund for the 2007 return, you will pay NO penalties and NO interest. In fact, the IRS will pay YOU interest on the refund amount.

1) You CAN mail both returns in the same envelope, but I do not recommend it. The IRS themselves say submitting multiple returns in one envelope results in a MUCH higher possibility that one or more of the returns will get lost.

2) If you are due a refund for the 2007 return, you will pay NO penalties and NO interest. In fact, the IRS will pay YOU interest on the refund amount.