Forgotten to File an Income Tax Return?
he IRS reminds that taxpayers should file all tax returns that are due regardless of whether or not full payment can be made with the return. Depending on an individuals circumstances, a taxpayer filing late could qualify for a payment plan. It’s never too late to file. However, all payment plans require continued compliance with all filing requirements after the plan is approved. Taxpayers unable to pay all taxes due on the bill are encouraged to pay as much as possible. By paying as much as possible now, the amount of penalties interest and penalties owed will be lessened. They should then immediately contact the IRS to explain their situation. Based on the circumstances, a taxpayer could qualify for an extension of time to pay. The IRS is willing to offer extensions of time to pay in order to assist in tax debt repayment. A taxpayer can request an extension from 30 – 120 days depending on the specific situation. Penalties and interest incurred will be less through an extension of ti
