TaxMan123.com

By Roger Chartier

United States of America IRS Tax Information

TAX BLOG
When Roger has some spare time, he posts here. Good articles!

LINK TO BLOG HOME PAGE

Failed to File Taxes!

I failed to file taxes this year!

It was because I thought I didn't earn enough, or I was too caught up in my own or a family members health issues, or it was because I was thinking that I would file later and April 15 came, and I was too busy to remember and...

It doesn't matter what the reason is the IRS might not be happy when you don't file, if you should have.

What can I do about not filing my tax return?

1. If you are due a refund then it is actually OK to file a bit late! This is good news, but...


2. If you owe taxes then you should file and pay as soon as possible to avoid the larger amount of interest, and also any penalties charged to you.


3. If you earn less than $58,000 you can file for free with software that is available on the internet. You can use the IRS Free File software as well but only until October 15th and through the IRS.gov website.


4. The IRS offers IRS e-file which gives you a confirmation that you have filed and that they have received the filing. With the IRS e-file your tax return money will usually come within 21 days from your filing.


5. If you have to pay, then pay as much as you can, as fast as you can. This helps to reduce or to stop the interest and penalties.


6. If you have to pay more taxes you can make an agreement with the IRS using the Online Payment Agreement tool or you can mail the Form 9465 which is an installment Agreement request.
   Read the Instructions for Form 9465
   
   
7. If you had taxes withheld from your pay or if you qualify for certain tax credits then you could get a refund. Even if you are not required to file look into this to see what you could get back from the government's IRS. This deal would dry up in 3 years.

What else can I do?

There is more information available on this subject elsewhere on the internet.

If you can keep up to date with filing when you will owe money in taxes, it will save you a lot of money as far as penalties and interest, etc. are concerned. Be a good citizen and save your self some money!