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This year, you need not fear the fifteenth. Instead, the seventeenth is the day of loathing. Why? Well, the traditional filing deadline falls on a Saturday, which means the filing date is bumped to the following Monday. Two whole extra days! Preparing tax returns is a complex matter. If you don’t believe me, just try reading one set of instructions kicked out by the IRS. Instead of doing a sloppy preparation, you might want to get more time. 4868 is the form you need to file. The good news for extension filers is two fold. First, the extension is granted automatically. Second, the period has been extended from three months to six months. This longer period, however, also means the IRS is unlike to grant a second extension. While the IRS is pretty liberal when it comes to filing returns, the agency has a different attitude towards payments. Yes, you can have more time to file the return, but you better pay whatever you owe now or you will pay penalties and interest. Send in money with the extension. The tax filing deadline can come at a bad time for many people. You might be ready to file, but do not have the money to pay the amount due. What should you do? The steps taken by most people is, well, to take no steps at all. They simply don’t file in hopes that they can do so later when they have the cash to pay. This is not the best of ideas. If you are ready to file, but short on cash, go ahead and file. Send in what you can even if it is less than you owe. The IRS will send you a notice of shortfall. You can then request a payment plan. You are probably wondering what the difference is between the approaches. Ultimately, the second approach saves you money. Why? Well, the interest and penalties you pay will be based on a smaller outstanding debt because you sent at least some money in. If you are ready to pay your tax liability, there are a couple of ways. You can pay by check as has always been the case. You can also pay by credit card by going to officialpayment[dot]com. You will pay a service fee for using the online system. Many people are happy to learn they are actually due a refund on their taxes. If you fall into this group, you might want to know when the heavenly money will be coming. Visit the site for the IRS and follow the link on the home page. Filing taxes is one of those things we all tend to put off until the last moment. Well, the last moment is here! Article Source: http://www.articlewheel.com
IRS tax debt settlement is possible at BusinessTaxRecovery.com.
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