Tax Filing Deadline Approaches

Tax Filing Deadline Approaches

Tax Filing Deadline Approaches

To apply for an extension in nearly all cases, you must file IRS Form 4868 prior to the April 17th filing date.

"If you haven't already filed, don't rush", IRS spokesman Michael Devine said. University professors are offering their advice to students on how to file taxes and highlighting the resources available to them. The government wants your tax dollars by April 17. "Let's say you don't pay by April 17th, well then you're still going to have to pay interest on that money later anyway". The program is open to individuals and families with incomes of $66,000 or less. The two types of penalties the IRS can leverage against you are: the failure-to-file penalty and the failure-to-pay penalty, which is pretty self-explanatory.

Further, not only are so many respondents utilize their tax refunds for repaying credit card debt, but they are tapping into a serious proportion of their total refund amounts.

An LLC (Limited Liability Company) is a legal entity that is similar to a corporation in that it limits business owners' personal liability and offers tax-treatment flexibility.

Whether you file electronically or by paper the deadline for filing taxes is just around the corner.

Law enforcement officials also have issued warnings about scammers who say they're from the IRS and try to trick victims out of their money.

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"We normally do over 1,000 returns a year", said David Stephenson, an RSVP volunteer. Since the penalties for filing after April 17 are based on having to write a check because of having a balance due, that means, by default, that if a return is filed after April 17 by a taxpayer that has a refund coming, there should be no penalty for filing after April 17. If the city were to collect this money we could fund 15 miles of road projects, hire additional police officers, replace and fix emergency vehicles and many other important projects that residents and visitors are asking to be completed.

Because the IRS considers the LLC a disregarded entity for tax purposes, by default, it receives pass-through tax treatment.

The committee's Chairman, Rep. Kevin Brady (R-Texas) said, "The bills we have before us today look to dramatically change the structure of the IRS and look to refocus it as a taxpayer first agency".

The Internal Revenue Service (IRS) has several electronic filing options for individual taxpayers: Free File forms, free tax return preparation sites, commercial software, and tax preparation professionals who are authorized e-file providers.

Filing for an extension: Is it bad, and is there a penalty?

The agency's workload was dramatically increased by the Republican tax law, which tasked the agency with immediately implementing hundreds of complicated revisions to the US tax code.

Time is running out to get your taxes done.

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