Tax season is a stressful time for many people. It can be difficult to stay on top of deadlines and find the right forms, but it’s important to keep track of deadlines so you don’t miss out on savings opportunities. If you haven’t filed your taxes by the usual April 15th deadline, don’t panic and take the proper steps to avoid further consequences!
The first step to take is to go ahead and file your taxes even if you’re late. This way, you’ll avoid any more late fees and penalties that you may have already accumulated.
For taxpayers who have filed before the deadline and have gotten their refund, additional interest and penalties will not be an issue for you. If there is a legitimate reason for you to not file on time, there’s always the option to request for an extension. Keep in mind that interest will still add up during the extension period.
Get Your Tax Return
Filing your taxes is the only way to obtain your tax refund. If a refund is due, there is generally no penalty for filing after the tax deadline. The IRS advises individuals to submit their taxes electronically since paper returns are delayed.
As everybody should know by now, electronic filing is the most efficient way to pay and file. Taxpayers who owe taxes are able to pay it off using a debit or credit card on the IRS’s website. If you are unable to pay your tax debt in full, the IRS offers a payment plan.
Direct Pay and Electronic Federal Tax Payment Systems make more efficient methods for taxpayers to file their taxes and pay off any outstanding balances. It’ll cut the hassle in half for all parties.
Multiple Years Of Unfiled Taxes
An issue might arise if you tend to have a habit of not filing your taxes. Trust us when we say this, you do not want to fall on the IRS’ naughty list. There are many programs that are offered in order to solve your tax-related issues, including years of unfiled taxes, in some sort of way. But there is a new and improved relief program that consolidates many major relief programs into a one-size-fits-all assistance program; The IRS Fresh Start Program. This program is designed to relieve not only the IRS, but also your back taxes. It does this by making sure you are filing accurately and gives up-front payment options solutions for those who can’t afford their tax debt payments. This relief program utilizes four of the major tax resolution strategies into one consolidated program!
How Simple Is Qualifying?
Considering that the Fresh Start Program is a federal program, you would think meeting the qualifications may be very difficult, but really, it’s a lot simpler and quicker than you think. Take the following steps in order to find out if you are eligible in as little as 3 minutes.
- Fill out some basic information about yourself and your back taxes here.
- Have a representative reach out to you to discuss your eligibility.
- Go through the enrollment process and finally reduce or eliminate your tax liabilities.