Even if you don’t have the money to pay the taxes that you owe right away you need to remember to send in your return on time. It’s important to be aware of the fact that the penalty for filing late is much more severe than the penalty for making a few late payments. It’s also wise to look at all your different options when you’re looking to pay off the money that you owe in taxes.
For example, some people will look at the equity in their home or even a credit card when they owe this kind of money to the government but the point is you need to look at several different options to find the one that has the least interest.
If you know you can get your hands on the money but you’ll need just a little time in some instances it’s a good idea just wait until the IRS sends you a confirmation letter. It’s also important to remember that the government will accept installment payments but you need to fill out the right form.
This news blog post was brought to you by Pay1Day.com, a direct payday lender offering payday loans and current news briefings for the busy people.