Money, money, money...so many want it and many hate parting with it.
The Internal Revenue Service (IRS) generally requires you to part with
some of the money you earn. The process includes finding boxes of
receipts and filling out tax forms. It can be a daunting process for the
ill prepared but it doesn't have to be that way. Hopefully, you filed
your tax returns with the IRS by April 15th, but if you didn't file your
tax return on time you could have filed an extension. You can use Form
4868 if you need more time to file your tax returns. An extension gives
you up to six months to file your tax return but it doesn't give you an
extension to pay any tax due on April 15th.
If you haven't filed your return on time, don't panic. Per the IRS.gov website, filing a past due return may not be as difficult as you think. You should file all tax returns that are due, regardless of whether or not full payment can be made with the return. Depending on an your particular circumstances, you may qualify for a payment plan. Contrary to popular belief, there's no reason to fear the IRS. Tax issues are important and should be dealt with quickly so ask your tax preparer or CPA for guidance.
As always, please email me with any questions or comments.
Ebong Eka, CPA
info@ebongeka.com
If you haven't filed your return on time, don't panic. Per the IRS.gov website, filing a past due return may not be as difficult as you think. You should file all tax returns that are due, regardless of whether or not full payment can be made with the return. Depending on an your particular circumstances, you may qualify for a payment plan. Contrary to popular belief, there's no reason to fear the IRS. Tax issues are important and should be dealt with quickly so ask your tax preparer or CPA for guidance.
As always, please email me with any questions or comments.
Ebong Eka, CPA
info@ebongeka.com
