• News
  • Finance

Options Available For People Who Can't Meet Tax Deadline

Options Available For People Who Can't Meet Tax Deadline

Also on this tax day you can cash in on some great freebies, specials and discounts.

"So, certainly if you get a call that you feel suspicious just say ok, I'll reach back to you, hang up and dial the IRS directly".

The legislation would codify the IRS' existing Free File program, a partnership with tax preparation businesses to ensure that the bottom 70 percent of taxpayers can file their tax returns for free. The IRS charges 5 percent per year, compounded daily, on any unpaid balance; the late-payment penalty is 0.5 percent per month.

Tax experts say you can file for an extension to avoid some of the costs.

If you haven't filed your 2017 taxes yet, don't worry! It can be accessed at the IRS website at IRS.gov.

You may want to make a contribution to your Tax Free Savings Account (TFSA), make an early 2018 contribution to your RRSP to get growth, contribute to your children's education through a Registered Educational Savings Plan (RESP) or put it into a Registered Disability Savings Plan (RDSP) if appropriate. You don't need to register, write a check or find a mailbox.

Pay by Debit or Credit Card.

If you can't settle your IRS tax debt now, then consider setting up a payment plan. No part of the fee goes to the IRS. Simply download IRS2Go from Google Play, the Apple App Store or Amazon.




"Most people e-file now", he said. At the end of the year, if you've paid more than what you owe, the federal government will issue you a tax refund.

Sign and date your return, and remember if you file jointly that your spouse must also sign and date the return.

One of the fastest, most secure, and least expensive options is to use Direct Pay. The required number of states ratified the amendment in 1913, and Americans have been required to pay federal income taxes ever since.

Alternatively, taxpayers can request a payment agreement by filing Form 9465, Installment Agreement Request. Use the SSN shown first if it's a joint return. This form can be downloaded from IRS.gov/forms and should be mailed to the IRS along with a tax return, IRS bill or notice. Do not send cash through the mail. Visit www.IRS.gov for additional information. An offer in compromise may allow you to settle for less than the full amount you owe.

The Direct Pay system walks you through the process, and there are only a few steps.

Finding out that you owe the IRS additional money can be disheartening, but it's something that you have to handle.

Each and every taxpayer has a set of fundamental rights they should be aware of when dealing with the IRS.

A bill sponsored by Rep. Karen Handel (R-Ga.) would require the Treasury Department to give public notice 90 days before the proposed closure of any taxpayer assistance center, and identify alternative sources of taxpayer assistance in the area.

Leave Your Comment

Leave Your Comment


Latest News

Breaking News



Recommended

Carrie Underwood gears up for comeback at CMAs after injury

The 35-year-old singer also revealed that she has been working with a new record producer for her upcoming album. It is the first large gathering of country music stars and fans in Las Vegas since that attack.

Trump signals DOJ taking more hands-off approach to marijuana prosecution

He singled out Colorado, the first state to allow leisure marijuana product sales. Trump's backing is seen as key to getting a bill through Congress.

Taliban seize district in Afghanistan's Ghazni province

The Taliban planted mines to prevent government reinforcements from going to help and quickly took responsibility for the attack. He said eight government security forces were wounded in the fighting.

Final closing dates for Toys R Us stores are revealed

Meanwhile, New Look and Carpetright have both announced plans to shut stores as part of restructuring plans. Toys R USA continues to operate more than 700 stores across Asia, including Japan, China and Singapore.

Saudi Aramco signs MoU for 50:50 mega refinery JV in Ratnagiri

Saudi Aramco might take a 50 percent equity stake in the project and can bring in another strategic investor, the person said. India-the world's third largest oil consumer-has been pushing for reasonable crude oil pricing from The Kingdom.

Lawmakers say Trump will look into trade talks

Trump earlier this year opened the door to reentering the trade deal if the terms were more favorable for the United States. The deal, which covers Pacific-rim countries in Asia and the Americas, was conceived as a counterbalance to China.

Russian Federation 'complicit' in Syrian regime's retention of chemical weapons: Mattis

The President will speak with President Macron and Prime Minister May this evening", said press secretary Sarah Huckabeee Sanders.

Mark Zuckerberg admits his own data was obtained by Cambridge Analytica

Barton had asked about what data Facebook shares with third parties about people under the age of 18. He clarified that the company wasn't tracking user data.

Spotify, Hulu Team Up For Bundled $12.99 Plan

Current Spotify Premium users can upgrade starting today, and the plan will be opened up to everyone later this summer. Hoping to fend off subscriber gains from rival Apple, Spotify has announced an expanded partnership with Hulu.

City staff wearing jerseys Thursday to support Humboldt families

She said immediate matters like funeral costs are only part of what she expects the victims' families to spend the money on. Two people have since been released from hospital and, of the dozen that remain, four were listed in critical condition.