Filing taxes on time, especially if you owe, is something we always encourage our clients to do.
Costa Mesa, CA (PRWEB) April 09, 2013
Ideal Tax Solution, LLC is encouraging taxpayers to file a return on time even if they cannot pay an amount owed. The IRS has options in place for people who want to file extensions or simply need more time to file. These options refer to an extension of time to file, but not an extension of time to pay. Taxpayers having trouble paying what they owe may qualify for payment plans and other relief.
Taxpayers should file, even if they can’t pay the full amount due. By filing before the April 15 deadline, taxpayers can avoid stiff penalties if they file either a regular income tax return or a request for a tax-filing extension. Many people are under the false impression that if they owe money, the same penalties and interest will accrue whether or not they file on time or late.
“Nothing could be further from the truth, according to Thomas Rodriguez, senior tax analyst at Ideal Tax Solution. “Filing taxes on time, especially if you owe, is something we always encourage our clients to do. The amount of tax liability a taxpayer owes the IRS can be substantially reduced by simply filing on time. It can literally mean the difference between financial stability and having need for professional tax resolution.”
Professional tax-help companies like Ideal Tax Solution are a good source for personalized information on the services and programs established by the IRS to assist taxpayers. The IRS allocates substantial resources in an effort to help individuals and businesses maintain their “taxpayer in good standing status.” The following options represent ways in which taxpayers can avoid being unnecessarily penalized for late filing:
More Time to File
Six-month extensions are available to taxpayers who cannot have their tax returns completed by the April 15 deadline. Filing form 4868 gives a taxpayer until October 15 to file. However, to receive this extension, taxpayers must estimate their tax liability on this form and pay any taxes due.
More Time to Pay
Taxpayers who have completed their income tax returns should file even if they can’t pay the full amount due. In most cases, those struggling with tax liabilities can qualify for one of several relief programs.
For more information on IRS penalty relief programs, contact Ideal Tax Solution or visit http://www.IRS.gov.
For U.S. taxpayers interested in finding out more about Ideal Tax Solution and their full range of in-depth and personalized tax preparation services, or for any tax help related issue, visit them online at http://www.idealtaxsolution.com. You can also reach them by phone by dialing 888.393.5154. Good tax tips and additional information can be found on their Facebook page and by following them on Twitter.
About Ideal Tax Solution, LLC – Located in Costa Mesa, California, the company provides a full range of tax preparation and resolution services as well as reassurance to taxpayers nationwide. With more than 55 years of combined experience providing American taxpayers with federal and state income tax solutions, Ideal Tax Solution offers an experienced staff which includes Enrolled Agents, CPAs and Senior Tax Consultants who stand at the ready to help with any tax issues.