- File as soon as you can to avoid penalty charges and to minimize interest on any outstanding amount owed. Note however, that there is no penalty for late filing if you do not owe tax or are due a refund.
- If you find you owe tax but will have difficulty paying the amount right away, pay as much as you can when you file. You will be given the opportunity to pay the remainder later. This will minimize penalties and interest you may incur.
- If you need more time to pay, you may also apply for a payment plan through the IRS on-line payment agreement tool or mail in the IRS Installment Agreement Request, form 9465.
- If you are not sure what you owe, owe back taxes or un-filed prior year returns, give us a call. We will determine the extent of your tax liability and work with you to minimize what you owe, find an appropriate payment plan and/or determine if you qualify for an offer-in-compromise. - LB
Sage advice for those who have yet to file their taxes for 2013 or earlier years:
Larry Baker, Enrolled Agent