YOU NEED TO FILE ON TIME EVEN IF YOU CAN’T PAY
Port St Lucie, Fl. (April 8, 2015) — Will you owe more taxes than you can afford to pay, when April 15th rolls around? If so, don’t fail to file your return, make sure to file on time. That way you will avoid a penalty for filing late. If you can’t pay all your taxes by the due date there are options;
- File on time and pay as much as you can. You should file on time to avoid a late filing penalty. Pay as much as you can with your tax return. The more you can pay on time, the less interest and late payment penalty charges you will owe.
- Pay online with IRS Direct Pay. IRS Direct Pay is the latest electronic payment option available from the IRS. It allows you to schedule payments online from your checking or savings account with no additional fee and with an immediate payment confirmation. It’s, secure, easy, and much quicker than mailing in a check or money order.
- Pay the rest of your tax as soon as you can. If it is possible, get a loan or use a credit card to pay the balance. The interest and fees charged by a bank or credit card company may be less than the interest and penalties charged for late payment of tax.
- Don’t ignore a tax bill. If you get a bill, don’t ignore it. The IRS may take collection action if you ignore the bill.
Contact your local Enrolled Agent, Jeffrey Schneider, EA, NTPI Fellow today and let him help you find the best strategy, at 772-337-1040 or 561-868-1868.