Things on What You Need To Know To File Your Taxes before You Pay Them
A lot of people dislike taxes except, of course, the accountants. However, most of us acknowledge that taxes are important to maintain the country up and running and those taxes are used by the government to pay for national security, built infrastructures, fund the education and other social works of the government.
Now as a citizen to this country, it is important that you pay your taxes and this is the reason why your employer will usually deduct from your income your estimated income tax, so that by the end of the year you are not likely to owe the government a lot of income tax.
What is important is that you file for the income tax return in a timely manner. However if you cannot pay the government on time, IRS usually offers several payment plans. Thus, here are frequently asked questions on income tax that you might ponder on.
– If I fail to meet the deadline on the 15th of April, what happens? See Filing and Paying Taxes Late
– If some of my income does not withhold and pay the taxes? See Paying Estimated Taxes
– Are there audit triggers that I need to avoid? See Avoiding an Income Tax Audit
– What do I do if I miss filing my taxes for more than a year? See Tax Returns: If You Haven’t Filed in a While
– Do I need to file a tax return if I live outside the country? See Filing a Tax Return When You Live Outside the United States
– How to Deal With High Tax Bills
– What if I cannot pay my tax bill? See Tax Bill FAQ
– Can I pay the taxes I owe IRS in installment? See IRS Installment Payment Plans
– Will IRS settle for less money that I owe them? See Offers in Compromise
– What to do if an IRS collector contacts me? See IRS Tax Bill Collections: What You Can Do
– Will filing a bankruptcy be able to take care of my tax bill? See Eliminating Tax Debts in Bankruptcy
There are times when you may want to rebel from the governments financial system but IRS is very skillful in hunting down those who owe the government and if you cannot pay taxes or is cheating on them, then you will suffer serious consequences for your actions.