Many taxpayers fail to file a return even when required to do so. Your obligation to file these returns never goes away, but catching up may be easier than you think.
Learn how to file back taxes, including when and why you need to file them. Get step-by-step guidance on gathering past tax documents, filling out the correct forms, submitting them to the IRS, and tips to minimize penalties and interest charges.
obviously to pay any amount that is due (hopefully you owe theIRStaxes, as tax refunds are getting back thewithholding taxoverpayments that had resulted in interest-free loans to the federal government). This year, you should consider paying your taxes online, and I’ll share how you can ...
skip to main content how to pay your taxes online paying us federal and state taxes online can be confusing, and one wrong move can result in penalties or extra money owed. we break it down so you can have the most worry-free tax filing possible. photo-illustration: ali cherkis/getty ...
What Happens if You Can’t Pay Your Taxes? Getting hit with a big tax bill is scary—especially if you don’t have the money to pay it. Here are some ways to pay off your bill and make sure you don’t get a scary surprise next year. ...
if you're self-employed, are you required to pay quarterly estimated taxes? self-employed individuals may need to pay quarterly estimated taxes. the irs website states, “as a self-employed individual, generally you are required to file an annual return and pay estimated tax quar...
It could lead to penalties for your withholding being too low. A good way to check to make sure you're withholding enough is through the IRS's Tax Withholding Estimator. READ: 15 Tax Questions Answered. When Should I Increase My Withholding? If you owe taxes at the end of the year,...
4. Calculate gross pay and federal and state taxes You'll need to do some calculations for each employee to determine what to pay them and what to withhold for payroll tax purposes. Calculate how much gross pay you owe each employee.For salaried employees, this is the amount of salary they...
Don't let things get to that point. Respond as soon as you get the first back-taxes notice. Basically, taxpayers have three options for paying back taxes: Under an installment agreement, a taxpayer pays the amount due over a period of time.4 An offer in compromise typically involves se...
If you are behind on your payments, you can try debt settlement with the help of a reputable debt relief company. With this strategy, you negotiate with lenders to reduce the amount of debt you owe in exchange for agreeing to pay a portion of your balance. However, one drawback to ...