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June 12, 2014 by
Another year’s income tax filing deadline has come and gone. If you are someone who has missed the deadline for filing your income taxes, you should get some professional help from our Woodhaven Triangle Tax Services office. Anyone can make a mistake and miss a deadline. But when you do, you want to make sure it is corrected with the Internal Revenue Service (IRS) as soon as possible.
Making a mistake by not filing your income tax return on time will result in a penalty. However, if you don’t correct that mistake as soon as possible, or miss several years of income tax deadlines, the result will be much worse for you than if you had corrected the error immediately. In addition to the penalty for late filing, there is also interest charged to any amounts due to the government once the deadline has past.
Our income tax specialists at the Woodhaven Triangle Tax Services office will help you get back on track. If you owe money to the government, the sooner you file your income tax return, the less penalties and interest on the amount owing you will have to pay.
If you don’t have all of the money that you owe the IRS available to you at this time, the income tax specialists in our Woodhaven office will help explain your options. It is always best to pay the highest amount that you are able to pay, even if it is not the total amount of income tax that you owe the government. We can help you file a form for an installment agreement request. If approved, the installment agreement will allow you to make installment payments to the IRS for the amount due.
It is also important to know that the IRS will consider reducing any penalties assessed for late filings if you can show that the missed deadline was due to a reasonable cause. If this is the case, our income tax specialists at the Woodhaven office will help you appeal for a reduction to any accrued penalties. However, the IRS will not waive interest charges on any amounts owing.
If you are entitled to an income tax refund but have not filed your income taxes within three years, you will forfeit the right to your refund. This is another good reason to be caught up on your taxes. You never know when you might have money coming back to you. Do not lose your chance at collecting your refund!
If you have missed this year’s income tax filing deadline, don’t panic. The specialists at Triangle Tax Services’ Woodhaven office will have you caught up in no time.
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