Some 1,600 individuals who make $1 million or more per year were the most recent focus of the IRS. Each owed more than $250,000 in back taxes. “With this collection activity, the IRS passed an important milestone in our effort to improve compliance and ensure fairness in the tax system...
The extended due dates apply to most federal tax returns and payments, including those for income taxes (including estimated tax payments), payroll taxes, and excise taxes. If you’re impacted by a natural disaster, check our IRS Disaster Relief page to see if you qualify f...
An extension can provide extra time for filing but does not delay the payment due date. The deadline for submitting personal income tax returns and paying taxes for the 2024 tax year is April 15, 2025. If you need extra time to file, you can ask for an extension, but keep in mind ...
Then wait for the IRS to send you a letter called the Notice of Tax Due and Demand for Payment. It will detail your outstanding balance and any late charges that have been added. The IRS usually provides a grace period of 21 days after sending that letter to avoid additional interest and...
Reports that many of the United States (US) Internal Revenue Service's (IRS) notices for taxes due or errors in returns are unnecessary according to the US General Accounting Office. Statistics on taxpayers who got IRS collection notices because they had not paid in full and on time; Number...
Jan. 15:Today is the due date for the finalestimated taxtax payment for the 2024 tax year. This payment covers the earnings you got last October, November, and December that weren’t subject to withholding. You can pay your estimated amount electronically, or mail your check payment and vou...
The IRS could audit your previous years’ taxes, which may result in an additional tax liability. While the IRS typically audits returns filed within the last three years, it’s better to get ahead of any potential issues. Mistakes happen and they can be easily fixed by amending your...
You may have to wait a while due to high call volumes (and redial a few times), but you will get a live agent. Option 2 Call the IRS on 1-800-829-1040 So after first choosing your language, thendo NOTchoose Option 1 (refund info) or Option 7 (economic impact payment/stimulus che...
According to the IRS, the tax relief postpones various tax filing and payment deadlines that occurred starting Jan. 8, 2023. Those affected have until May 15, 2023, to file returns and pay any taxes that were originally due during this period. This incl...
You can find more information about payment plans on theIRS website. Finding a Legitimate Tax Relief Firm Several red flags should warn prospective customers who are considering hiring a tax settlement firm. Any firm that promises to drastically reduce a customer's taxes without first getting a de...