Did You File Your Taxes Late? Here’s How To Ask For An Extension in Houston, Texas
With the best of intentions we all aim to prepare our taxes accurately and on time. However, achieving this can be difficult, time consuming and in some cases simply an unattainable goal. You may not have been able to find your records and time has just slipped away, or perhaps you no longer have someone available who can help you.
This can leave you feeling overwhelmed and in a state of despair. However, it is important to resolve the situation and this can be done through requesting a time extension from the IRS.
Filing on time
There are two main advantages for filing your taxes at the appropriate time. Refund claims need to be made within three years of the date of your return. If you do not do this, your refund may be at risk of being lost. Secondly, if you are self-employed and your return is not filed you may not received entitlements that you should receive. This includes disability benefits and Social Security retirement credits.
If you cannot provide your payments
Even if you cannot afford your payments, you should file your return to avoid failure to file penalties.
The importance of filing voluntarily
If you do not file your returns the IRS employees will do this on your behalf. As they do not know all the details of your personal circumstances you may miss out on entitlements as well as credit for deductions and exemptions. Your bills will then be sent to you to outline the tax due, and may include penalties as well as interest.
About going to jail
A long-standing practice of the IRS has been not to recommend criminal prosecution if you fail to file your tax returns. However, this only applies if you voluntarily file, or make arrangements to file, before being notified you are under criminal investigation.
Requesting an automatic extension of time
There are three ways you can request an automatic extension of time for your individual income tax return. You can hard copy post or electronically file Form 4868 which is available on the IRS website. This form is called Application For Automatic Extension of Time To File U.S. Individual Tax Return. You can also pay all or part of your estimate of income tax due using a credit or debit card or by using the Electronic Federal Tax Payment System. You need to be aware that an extension of time to file is NOT an extension of time to pay.
Success Tax Relief
Of course, the easiest way to solve problems with the IRS is to call Success Tax Relief today. Their trained tax specialists can quickly and easily advise you on what is necessary, and relieve you of the heavy burden. You will have peace of mind knowing that your taxes are finally on their way to being back in order again. Call 1-877-825-1179 now so that they can get started working for you.