Home » Services » Tax » Can’t Pay Your Taxes? Read This

Can’t Pay Your Taxes? Read This

Can’t Pay Your Taxes? Read This

Read This if you Need More Time to Pay Your Taxes Taxpayers who owe taxes may be relieved to know that there are some options for those who owe and can’t afford to pay the full amount right away. Here are the top 10 things our Miami Accountant wants you to know if you need more time to pay your taxes.
  1.  Taxpayers who are unable to pay all taxes due are encouraged to pay as much as possible. By paying as much as possible now, the amount of interest and penalties owed will be less.
  2.  Based on the circumstances, a taxpayer could qualify for an extension of time to pay, an installment agreement, a temporary delay, or an Offer in Compromise.
  3.  If you cannot pay the full amount, taxpayers should immediately call the number or write to the address on the bill they receive.
  4.  You may want to consider financing the full payment of your tax liability through a loan. The interest rate and fees charged by a bank or credit card company are usually lower than interest and penalties imposed by the Internal Revenue Code.
  5.  If you cannot pay in full immediately, you may qualify for a short amount of additional time, up to 120 days, to pay in full. No fee is charged for this type of payment arrangement and this option may minimize the number of penalties and interest you incur.
  6.  You may also want to consider an installment agreement. This arrangement allows you to make monthly payments after a one-time fee of $105 is paid. If you choose to pay through a Direct Debit from your bank account, the fee is reduced to $52. Lower-income taxpayers may qualify for a reduced fee of $43.
  7.  To apply for an installment agreement you can use the Online Payment Agreement application available on the IRS website; file a Form 9465, Installment Agreement Request; or call the IRS at the telephone number shown on your bill.
  8.  In some cases, a taxpayer may qualify for an offer in compromise, an agreement between the taxpayer and the IRS that settles the taxpayer’s tax liabilities for less than the full amount owed. Generally, an offer will not be accepted if the IRS believes that the liability can be paid in full as a lump sum or through a payment agreement.
  9.  Even if you set up an installment agreement, the IRS may still file a Notice of Federal Tax Lien to secure the government’s interest until you make the final payment.
  10.  It is important to respond to an IRS notice. If you do not pay your tax liability in full or make an alternative payment arrangement, the IRS is entitled to take collection action.

Cant Pay Your Taxes?

Don't panic. If you cannot pay the full amount of taxes you owe, you should still file your return by the deadline and pay as much as you can to avoid penalties and interest. You also should contact the IRS to discuss your payment options
Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Evalúe sus nuevos ahorros tributarios,Accountants in Miami,auditoría,profesional financiero,Evalúe sus nuevos ahorros tributarios,Haga una revisión de los cambios fiscales,Haga una revisión de los cambios fiscales,contador publico,contador,planificación fiscal de fin de año para pequeñas empresas

Planificación fiscal de fin de año para pequeñas empresas

Contador público en Miami demuestra su guía lo ayudará a planearlo todo, preparándolo para el éxito. Guía de Planificación Financiera de Pequeñas Empresas Para el Año Nuevo. Leyes fiscales para las pequeñas empresas para el próximo período. Consejos de planificación fiscal para pequeñas empresas de fin de año 2020. Pasos para constituir una empresa.

Read More »
accounting firms in Miami,LLP,LLC,Corporation,bookkeeper,accountants,accountant ,CPA,How to find an accountant,Raise Venture Capital,Write a Business Plan,accountant,bookkeeper in Miami,Starting a Business,Write a business plan,accountant in Miami,How to start a Business

How to start a Business

Conduct market research. Market research will tell you if there’s an opportunity to turn your idea into a successful business. Then hire an accountant in Miami. Write a business plan. Fund your business. Pick your business location. Choose a business structure. Choose your business name. Register your business. Get federal and state tax IDs.

Read More »
contabilidad financiera,preparación de impuestos,contadores Miami,comprar o arrendar un vehículo comercial,las implicaciones de contratar a un empleado en comparación con el uso de un contratista independiente,auditoría,SBA,estados financieros,contador en Miami,QuickBooks,El flujo de caja,CPA,Accountant,declaración de impuestos,preparación de impuestos,Contador Publico,contadores,contador,contable

5 temas contable sobre las que hablar con su contador

Probablemente sea una buena idea que la mayoría de los propietarios de pequeñas empresas se concentren en el núcleo de su negocio, como vender ropa o diseñar sitios web y utilizar expertos Contador Público para ayudarlos en asuntos financieros. Según el IRS, más del 90% de las pequeñas empresas utilizan contadores para preparar sus declaración de impuestos, algo de lo que puede estar muy consciente durante la temporada de impuestos. Pero la declaración de impuestos de impuestos no es la única razón para utilizar un contador (Accountant o CPA en Inglés)

Read More »
Accountant,Certified Public Accountant,capital gains,Accountants Can Help Key Performance Indicators,Accountants Strategy For Struggling Businesses,Accountant,Why You Should I Hire an Accountant For a Small Company?,Maximize Your Accountant Relationship,Financial Statement Footnotes,Financial Statement Disclosures or Footnotes,Cost of Sales,COGS ,Cost of Goods Sold ,Last in last out accounting,LIFO accounting,First in first out accounting,FIFO accounting,accounting methods ,income before taxes,income from operations,operating expenses,Multi-Step income statement,Single Step income statement,balance sheet,income statement represents a period of time,gross profit,net profit,net income,company’s financial statement,statement of operations,operating statement,earnings statement,statement of financial performance,revenue statement,profit and loss statement,Profit & Loss,P&L,Income statement,How to read a P&L,How to read an Income Statement

How to read an Income Statement

Income statement (also referred to as profit and loss statement (P&L), revenue statement, statement of financial performance, earnings statement, operating statement, or statement of operations) is a company’s financial statement that indicates how the revenue (money received from the sale of products and services before expenses are taken out, also known as the “top line”) is transformed into the net income (the result after all revenues and expenses have been accounted for, also known as Net Profit or the “bottom line”). It displays the revenues recognized for a specific period, and the cost and expenses charged against these revenues, including write-offs (e.g., depreciation and amortization of various assets) and taxes. The purpose of the income statement is to show managers and investors whether the company made or lost money during the period being reported.

Read More »
Plan de pagos Largo Plazo,contador en miami,Plan de pago a Corto Plazo,declaración de impuestos,contadores en miami,Solicitud para un Plan de Pagos a Plazos,planes de pagos a plazos,Cuáles son los costos y cargos administrativos del plan de pagos,Qué es un plan de pagos?,plan de pagos con el IRS,Planes de Pagos con el IRS proveídos ,Planes de Pagos con el IRS proveídos Por un Contador Público en Miami,Contador,Contador Público,Contador Público en Miami

Planes de Pagos con el IRS Proveidos Por un Contador Publico en Miami

Un plan de pagos es un acuerdo con el IRS para pagar los impuestos que adeuda dentro de un plazo de tiempo ampliado. Debe solicitar un plan de pagos si cree que no podrá pagar sus impuestos en su totalidad dentro del plazo de tiempo ampliado. Si califica para un plan de pagos a corto plazo, no será responsable de un cargo administrativo. El no pagar sus impuestos cuando se vencen puede causar la presentación de un aviso de gravamen por el impuesto federal y/o una acción de embargo del IRS. Consulta con Contador Publico en Miami.

Read More »
financial accounting accounting, balance sheet, statement of financial position, statement of financial condition, balance sheet, Accountant, Accountant in Miami, Accountants in Miami, small business accounting firms, WHAT IS A BALANCE SHEET, How to read a Balance Sheet, HOW TO READ & UNDERSTAND A BALANCE SHEET, The Purpose of the Balance Sheet, Miami accountants, accounting and tax, small business cpa, auditors, small business tax accountants

How to read a Balance Sheet

How to read a balance sheet In financial accounting, a balance sheet or statement of financial position or statement of financial condition is a summary compiled by the Accountant of the financial balances of an individual or organization, whether it be a sole proprietorship, a business partnership, a corporation, private limited company or other organization such as government or not-for-profit entity. Assets, liabilities, and ownership equity are listed as of a specific date, such as the end of its financial year. A balance sheet is often described as a “snapshot of a company’s financial condition”. Of the four basic financial statements, the balance sheet is the only statement which applies to a single point in time of a business’ calendar year.

Read More »
Newsletter

Share Page

Close
Scroll to Top