My friend doesn't have enough $$ to pay her taxes--she has only about half of what she owes.
If not too late, what should she do? What form(s) does she need?...(NEW JERSEY).
Thanx. Best answer = 10 points.
2007-04-13 12:41:11 · 4 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
The deadline for filing for an extension is next week on Tuesday, 4/17. But an extension is just for filing, not for paying, so if it's having the money to pay that's stopping her, she might as well go ahead and file, since interest and late-payment penalties will be the same either way.
2007-04-13 13:14:53 · answer #1 · answered by Judy 7 · 1⤊ 0⤋
She doesnt have to pay all the money at once. She needs to file for an extension and ask for a payment arrangement. She can pay as low as $25.00 a month. Thats what I had to do once. She has to pay it every month on time or the IRS will put a lein on her credit and thats about the worst thing you can get on your credit. It would pay for her to go to an accountant. They know all about what paperwork to file.
2007-04-13 13:42:18 · answer #2 · answered by Cindy 1 · 1⤊ 1⤋
if you're speaking of federal taxes, the taxes you owe must be paid even if you file for an extension, by april 17 2007. If you're speaking of NJ state tax i dont know
2007-04-13 12:47:44 · answer #3 · answered by norton_king 2 · 0⤊ 0⤋
Nope you can file right up to the deadline.
2007-04-13 13:36:04 · answer #4 · answered by Anonymous · 0⤊ 0⤋