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Late payment penalties are generally 0.5% of the unpaid tax per month, though that can build to as much as 25%. If things get that bad, the IRS is usually willing to take a lower amount via a ...
The deadline to file federal income tax returns has come and gone. But if you missed the April 15 deadline, there are still some options available to get them filed and mitigate any potential ...
Amanda Monroe is among those hoping to be done filing by the tax deadline of April 18 so she doesn't have to file for an extension. Mark Steber of Jackson Hewitt says extending your tax return is ...
The late filing penalty may be waived or abated on showing of reasonable cause for failure. The failure to file penalty is imposed and starts to accrue interest from the due date of the return. [8] The failure to pay penalty is imposed when a taxpayer pays the taxes after payment was due, computed from the date prescribed for paying the tax. [9]
The April 18 tax deadline is rapidly approaching -- and if you've procrastinated filing, you're likely feeling the crunch. If you don't think you'll be able to make the deadline, you do have the...
Considering whether to file an extension for the 2010 tax year with Form 4868. An automatic extension until October 15 to file Form 1040 can be obtained by filing Form 4868. There is a penalty for not filing a tax return by April 15 that depends on whether the individual got a filing extension and the amount of unpaid taxes.
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