tax refund

Dealing With The IRS Part 1

Dealing with the IRS may be one of the most intimidating thoughts or notions for any American taxpayer. Everyone wants to know how to deal with the IRS when such unmentionable time arrives. Here are some tips for two common situations in which taxpayers may have to deal with the IRS. The first is the situation when a taxpayer simply has an inability to file a return and pay taxes; the second situation is the occurrence of an extensive delay in receiving an anticipated tax refund. Both may necessitate IRS contact. A qualified tax professional may offer the necessary guidance and assistance in these and many other tax-related scenarios.

You Owe Taxes On Your Returns – To File Or Not To File?

So you owe taxes and you haven’t filed yet, is there any advantage in waiting or should you file as soon as possible? If your current financial situation is precariously stressed, should you wait until you obtain the necessary funds to pay any taxes due?

Taxpayers that have failed to file tax returns for some extended period of time should file them immediately. Even if taxpayers have filed for an extension, time is of the essence to avoid costly penalties assessed by the IRS. When taxpayers do not file by the April 15th deadline, the IRS assesses failure to file (FTF) and failure to pay (FTP) penalties.

What To Do If You Haven’t Received Your Refund

Of course, none of us “prefer” to pay taxes. Once we do pay our taxes, if we expect a refund, we hardly exhibit any patience awaiting it in the mail. But the IRS is a mega-bureaucracy, which means that things get lost, overlooked, mishandled, and, well I shudder to think. Thus, delays are not altogether uncommon, and failures to process and mail returns actually occur, albeit infrequently. So what do you do if you haven’t received your tax refund?

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