Are you supposed to file your taxes by sending in your form if you owe money but can't pay it yet? Or are you supposed to wait till you have the money to file?
2007-03-20 14:05:05 · 5 answers · asked by Konjo Nashi Pirate™ 5 in Business & Finance ➔ Taxes ➔ Other - Taxes
It is possible to request an extension of time to FILE your tax return, but as another answer already states: April 17th (usually April 15, but the deadline is extended this year) is the deadline to actually PAY your taxes. If you do not have the money to pay your taxes in full, you should:
1) file your return by April 17th
2) pay as much as you are able (this could greatly decrease any extra charges), and
3) complete and include Form 9465 (linked below) with your return.
Form 9465 will formally request that the IRS allow you to use a payment plan to pay off your bill a little bit each month. The first link below contains more info. Good luck! :-)
2007-03-20 15:34:47 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Your taxes are due April 15. Plain and simple.
There are two things to bear in mind. April 15 is both the filing deadline and the payment deadline for the prior year's taxes.
The penalty for not filing your taxes is much higher than the penalty for not paying your taxes on time.
In short, if you know that you wont be able to pay your taxes on time then still file your return by April 15 and pay what you can. You can either send in a request (on the right form) to the IRS to allow you to pay your taxes over the next several months (which they will almost certainly OK) or you can wait for the IRS to bill you for the balance and then work something out with them.
The bottom line is definitely file your return or ask for a file extension by April 15 even if you dont have the money to pay all your taxes. You dont want to get hit with a needless penalty (a costly one too). Remember though that no matter whether you get an extension to file or not, your taxes are due April 15. If you pay later, you must pay interest on the tax due.
2007-03-20 14:22:55 · answer #2 · answered by sothere! 3 · 0⤊ 2⤋
Send in your form on time, whether you have the money to pay or not. Otherwise you'll pay additional penalties, for late filing.
2007-03-20 14:28:36 · answer #3 · answered by Judy 7 · 2⤊ 0⤋
File the return and pay as much as you can,, but file the return even if you pay nothing.
File it on time,, don't be late.
If you don't file you will be charged additional penalty and if you don't pay you will be charged extra interest.
Pay all you can with the return but file on time regardless.
2007-03-20 14:20:20 · answer #4 · answered by Jo Blo 6 · 0⤊ 0⤋
in case you reside in an area property state, lots of the refund that may not coming from EIC could be dispensed on your spouse. whether, a minimum of three of the community property states evaluate tax debt to honest interest. submitting for injured important different in California gets $0. on account that she did not artwork, the comparable is real for Texas.
2016-10-19 05:14:06 · answer #5 · answered by ? 4 · 0⤊ 0⤋