If you missed the April 17 tax filing deadline for your 2011
return, the IRS has some advice
for you.
First, don't panic. But do file your return as soon as
possible. If you owe money on the return, the penalty for late filing and
interest on the amount you owe will continue to grow until you file. E-filing
is the fastest way to file, and this option is available on 2011 tax returns
through October 15, 2012.
Second, pay as much of the tax you owe as you can. If you
cannot pay the full amount of tax due with your return, you can ask to make
monthly installment payments to the IRS.
File Form 9465, "Installment Agreement Request," or apply online
using the IRS Online Payment
Agreement Application available at the IRS
website (www.irs.gov).
Third, any additional delay in filing will just increase any
penalty and interest charges. These include a late filing penalty, a late
payment penalty, and interest on taxes not paid by April 17.
If you haven't filed your return, the problem will not go
away by itself. File your return, and if you can't pay the tax owed, inform the
IRS of your current financial
situation. For more information or filing assistance, contact our office.
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