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Accounting Service

What to Do If You're Late on Taxes: Filing for an Extension and Making Payments

Every year, people find themselves looking for "tax services near me" just a little late. An accounting service can do a lot for you, including paying your taxes last minute. But if you're already late or suspect that you're going to be late, you might need some additional help.

Filing an Extension for Your Taxes

Everyone can get an automatic six month extension for their taxes. It doesn't even require an accounting service. What you need an accounting service for, of course, is making sure those taxes actually get filed. Your extension isn't an extension to pay, it's only an extension to file. So you still do need to pay your estimated tax burden, but you don't have to file your taxes just yet.

Filing an extension gives you time in the event that you really don't know exactly how much you owe yet.

Making a Payment Plan

Let's say you can file, but you can't pay. You can create a payment plan. The IRS is usually fairly forgiving about payment plans, and lets people pay their debts off over three or five years, depending on the amount that is owed. If you owe under $20,000, you can usually get a payment plan automatically. Anymore, and you might have to file some additional forms and talk directly to the IRS.

Ready to find "tax services near me"? An accounting service can get you started on reducing that tax burden and making sure that you can file on time in the future. Most people aren't able to file on time because they've simply lost control over their books. Your taxes are one of the most important things that you have to pay, and if you don't pay them, you could easily find yourself losing your assets. Contact PC Accounting & Tax Services to find out more.

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