The Commerce Journal,Business and Local Businesses
*The Commerce Journal>>>Other Taxes

What happens if I send my taxes in late?


If I owe money, already filed, just need to pay

If you have filed, but did not pay, you will be sent letters from the IRS requesting payment. Further, you will be assessed penalties and interest from the day the return is due to the time you pay it off.

You have several options in terms of repayment, the most common being a payment plan. go to irs.gov for more information. The biggest thing to do is get an approved payment plan and start paying, so that the interest and penalites don't start compounding, and so that the IRS does not begin levy procedures.

pay as soon as possible, the IRS are the biggest crooks in the world and they charge huge interest rates per month, many times worse than credit cards. this happened to my mother in law. it nearly made her poor. not to mention the stress.

Tags
  Boston   Austin   Atlanta   Other - Business & Finance   Other Taxes   United States Taxes   United Kingdom Taxes   Spain Taxes   Singapore Taxes   Mexico Taxes   Ireland Taxes
Related information
  • Can a single mother receiving SSI & TANF (only forms of income in 2007) get the Economic Stimulus Payment?

    No. Temporary Assistance for Needy Families (TANF) is not considered "qualifying income" for the purposes of the rebate.

    ...
  • Since my parents filed for my 2007 taxes, do I need to send in the form for the stimulus payment?

    If your are claimed as a dependent, you will be ineligible for the rebate, but you may still benefit under the plan. While the rebate depends on your 2007 status and income, it is actually a reb...

  • Received letter from IRS today?

    no I didn't have that but I do know if you selected for direct deposit you'll get the stim rebate quicker than the refund. try calling h&r and see if they just answer your question. ...

  • Taxes on Inheritance?

    The inheritance is not taxable. When your wife sells her share of the house, a real estate transaction is made. Since she made no profit on the sale of the house (her cost basis was the value o...

  • Tax extension ?

    Unfortunately, you can't file for an extension online. It's a paper form that must be mailed in. Here's the direct link to Form 4868. Print it out, fill it out, and mail it in. ...

  • Other than sales taxes, what are the two other major types of taxes on goods and services?

    OK. In the US, in addition to sales tax, the following are taxes on goods and services: Excise tax Tariffs Property Tax Luxury Tax

    ...
  • I am a f1 student , I have income of 5500$ , having valid SSN , filed 1040EZ ,am I eligible for tax rebate

    If you are a nonresident alien, you are ineligible for the rebate. Otherwise, unless you are can be claimed as a dependent, you are eligible for a rebate of $300.

    ...
  • Who raises taxes and who charters banks?

    Congress. The Constitution gives Congress the power to raise taxes. The Office of the Comptroller of the Currency was created by Congress to charter national banks.

    ...
  •  

    Commerce Categories--Copyright/IP Policy--Contact Webmaster