What Taxpayers Should do When They Need More Time to Pay

All taxpayers should file their taxes on time, even if they can’t pay what they owe.

This saves them from a potential failure-to-file penalty.this can be the largest of all IRS penalties.

While taxes are due by the original due date of the return, some taxpayers are unable to pay them by the deadline.

Here are some tips for those who can’t pay their taxes in full by the April 17 deadline:

• File on Time and Pay as Much as Possible.

• Get a Loan or Use a Credit Card to Pay the Tax.

The interest and fees charged by a bank or credit card company may be less that IRS interest and penalties.

• Use the Online Payment Agreement tool.

Taxpayers should not wait for the IRS to send a bill before setting up a payment plan.If you need help with the payment plan call us today

The best way to do this is to use the Online Payment Agreement tool.

Taxpayers can also file an installment Agreement request with their return and set up a direct debit agreement, eliminating the need to send a check each month.

• Don’t Ignore a Tax Bill.

The IRS may take collection action against taxpayers who don’t respond to notices.