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Filing a past due return may not be as difficult as you think

Taxpayers should file all tax returns that are due, regardless of whether full Payment can be made with the return.  Filing on time and paying as much as you can keeps your interest and penalties to a minimum.

If you cannot pay in full, getting a loan or paying by debit or credit card may be less expensive than owing the IRS. If you do owe the IRS, the sooner you pay your bill the less you will owe.

Depending on an individual’s circumstances, a taxpayer filing late may qualify for a payment plan. Full payment of taxes upfront saves you money.

If you didn’t file a tax return but should have, take action now. First, gather any and all information related to income and deductions for the tax years for which a return is required to be filed, then call the office.

If you are owed money, the sooner you file, the sooner you will get your refund.  If you owe money but cannot pay the IRS in full, you should pay as much as you can when you file your tax return to minimize penalties and interest.

Payment Options

When it comes to paying your tax bill, it is important to review all your options.  There are several different ways to make a payment on your taxes.

Payments can be made by credit card, electronic funds transfer, check, money order, cashier’s check, or cash.

Taxpayers unable to pay all taxes due on a tax bill are encouraged to pay as much as possible. By paying as much as possible now, the amount of interest and penalties owed will be less than if you do not pay anything at all.

Based on individual circumstances, a taxpayer could qualify for an extension of time to pay, an installment agreement, a temporary delay, or an offer in compromise.

Penalties for Filing a Late Tax Return

If you are due a refund there is no penalty if you file a late tax return.  If you owe tax, and you failed to file and pay on time, two penalties may apply. One penalty is for filing late and one is for paying late and they can add up fast

What Happens If You Don’t File A Past Due Return?

It’s important to understand the ramifications of not filing a past due return and the steps that the IRS will take. Taxpayers who continue to not file a required return and fail to respond to IRS requests for a return may be considered for a variety of enforcement actions


If you haven’t filed a tax return yet, call the office today to schedule an appointment as soon as possible.

This post first appeared on TheCPATaxProblemSolver, please read the originial post: here

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Filing a past due return may not be as difficult as you think


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