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if im just a couple days late on my taxes will i owe the IRS like 50,000 dollars?
23Mar2008 Filed under: CorporationsQuestion:
if im just a couple days late on my taxes will i owe the IRS like 50,000 dollars?
Answer:
Well, I don't know how much you will owe in penalties if you pay your taxes late, but I DO think you can file for an EXTENSION to pay them. If you submit the form for the extension, by the deadline to pay the taxes, then I believe you have a certain amount of time to pay the taxes themselves. I can't imagine that there would be a huge penalty fee like you suggest. Unless you are a millionnaire, you don't file for the extension of time to pay, & you keep putting off paying….then they would nail ya bigtime. I would recommend checking with an accountant, a tax preparation place like H & R Block, Jackson Hewitt, or something along those lines, RIGHT AWAY, certainly this weekend or on Monday (Tax Day) at the latest, to see how to file for an extension. Or, you can check the various online tax preparation sites, Turbo Tax, etc.. OR, go to the IRS.gov website & see what info they give on filing for an extension of time to pay. OH, almost forgot, I have seen tax prep advisors set up in the local Wal-Mart, so maybe there is one of those near your area. Don't panic or give up hope. At least we have a couple of extra days to get the taxes done this year, till 4/17 rather than 4/15. Good luck!
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