Taxpayers are required to file for their income tax returns otherwise they risk paying the penalty as well as getting into trouble with the federal government. Filing for income taxes can be very daunting especially if this is the first time that you will be filing for one on your own.
How to Pay Taxes?
What makes filing for income tax returns is the different rate imposed on different people based on the income that they make. Moreover, you have to make sure that you follow the prescribed deadline for filing the return. This chapter teaches you the step by step procedure on how to pay for your taxes.
Tax Bill FAQ
The thing here is that there are a lot of things that you need to know when it comes to filing for your income tax and it is important that you keep yourself abreast with these information so that you will not encounter any problem with the IRS. This chapter discusses the most common FAQ asked by tax payers in order to understand what tax bill is all about.
The IRS Installment Agreement
Should you be incapacitated to pay for the whole amount of your income tax, there is a way to still be able to pay the IRS by applying for an IRS installment agreement. This chapter will give you tips on how to get IRS installment agreements and use it to your advantage.
Offers in Compromise
Aside from getting an installment agreement with the IRS, you can also apply for an Offers in Compromise (OIC) which allows you to settle your debt that is less than the total debt owed by the IRS. The Chapter also discusses different checklists that allow you to know how to file for OIC.
When filing for your income tax return, it is crucial that you know which forms to fill in. It is also very important that you also have an idea about the procedures of tax filing in the IRS, the incurred penalties should you fail to submit your return on time.
Filing Tax Late
There are a lot of taxpayers who file for their taxes late. What are the repercussions of filing for your taxes late? What can you do when filing tax late? This chapter gives you information on how to file your tax late.
Last minute Tax Tips
So you are ready to submit your filed tax return. However, before you do that, here are some last minute tax tips that will help you in order to make sure that you tax return is impeccable thus saving yourself from being subjected to unnecessary tax audits.
Penalties & Interests
This Chapter is dedicated to answering questions like how much penalty will be incurred if you cannot pay your tax on time, tips on how to lower down your income taxes as well as the process on how to pay for taxes and transact with the IRS.
Appealing an IRS Action
The IRS has a good appeals system for tax payers who disagree with the results of the examination done during tax returns. We believe that there is a solution to having a problem-free appeal with the IRS and this Chapter teaches you just that.