27 Kasım 2012 Salı

Can't pay your IRS taxes on time?

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6 ways to avoid some IRS late payment penalties and interest .

1. Read the webpage  Tax Troubles

The  tax trouble webpage  can be helpful as well for understanding what to do

2. Don't wait until you have all the money.

File your taxes on time and pay as much as you can when you file. Now you don't get a late filing penalty.
You will get a late payment penalty but it will be lowered as well as the interest and other charges.


3. Don't wait for the IRS to demand payment

Get in touch with the IRS and ask to set up an installment agreement. The sooner that you do that the better because you will pay less in charges, penalties and interest

4. Borrow the money

if the interest rate would be lower than what the IRS interest and charges and penalties would be.

5. If you get an IRS bill

call ASAP to straighten it all out and set yourself up to your best advantage.

6. Set up an extension to pay later

There is a thing called the "Fresh Start Initiative" that you should ask about where if you qualify you can avoid all penalties.

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