Thursday, May 22, 2014

Tips for taxpayer who missed the tax deadline

If you missed the April 15 tax filing deadline, don’t panic. Here’s some suggestion.
  • File as soon as you can.  If you owe taxes, you should file and pay as soon as you can. This will help minimize the interest and penalty charges. There is no penalty for filing a late return if you are due a refund.
  • IRS Free File is your best option.  Everyone can use IRS Free File to e-file their federal taxes for free. If your income was $58,000 or less, you can use free brand-name software.
  • IRS E-file is still available.  IRS e-file is available through Oct. 15. E-file is the easiest, safest and most accurate way to file your taxes. With e-file you receive confirmation that the IRS received your tax return. If you e-file and choose direct deposit of your refund, you’ll normally get it within 21 days.
  • Pay as much as you can.  If you owe tax but can’t pay it all at once, try to pay as much as you can when you file your tax return. Pay the remaining balance as soon as possible to stop further penalties and interest.
  • Make a payment agreement online.  If you need more time to pay your taxes, you can apply for a payment plan with the IRS. The easiest way to apply is to use the IRS Online Payment Agreement tool. You can also mail Form 9465, Installment Agreement Request
  • A refund may be waiting.  If you’re due a refund, you should file as soon as possible to get it. Even if you are not required to file, you may still get a refund.

1 comment:

  1. Thank you so much for sharing these tips to enhance the chances of passing the CPA exam. Exactly I need these tips because I have a plan to take this exam soon.

    You can try this site for you to learn more.

    ReplyDelete


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