Taxpayers Who Can’t Pay Their Taxes Should Still File On Time

admin • April 15, 2023

 

With the April tax filing due date just a few days away, taxpayers should remember to both files and pay any taxes they owe by the deadline. Taxpayers who do not file and pay timely will see their tax debt grow. In fact, penalties and interest can cause a taxpayer’s debt to grow by more than thirty percent in just a few months.

 

Here are some tips for taxpayers who owe tax, but who can’t immediately pay their tax bill. Taxpayers should:

  • File their tax return or request an extension of time to file by the April deadline.
    Taxpayers who owe tax and do not file their return on time or request an extension may face a failure-to-file penalty for not filing on time.
  • Pay as much as possible by the April due date.
    Whether filing a return or requesting an extension, taxpayers must pay their bill in full by the April filing deadline. Taxpayers who do not pay their taxes on time will face a failure-to-pay penalty. Taxpayers should remember that an extension of time to file is not an extension of time to pay.
  • Set up a payment plan as soon as possible.
    Taxpayers who owe, but cannot pay in full by the deadline don’t have to wait for a tax bill to request a payment plan. Taxpayers can apply for a payment plan on IRS.gov. Taxpayers can also submit a payment plan request in writing using Form 9465 , Installment Agreement Request.

irs.gov

Disclaimer: The information on this website and blog is for general informational purposes only and is not professional advice. We make no guarantees of accuracy or completeness. We disclaim all liability for errors, omissions, or reliance on this content. Always consult a qualified professional for specific guidance.

RECENT POSTS

Probate Advances vs Probate Loans: Key Differences Explained
April 21, 2025
In this article, we’ll explain probate advances and loans, how they work, what sets them apart, and important legal considerations in the U.S. Learn More!
What to Do if You Lose Your Trust Documents? - Florida Tax Lawyers
April 7, 2025
If you have lost your Trust documents and can't find a copy, you will need to revoke the lost Trust and create a new Trust to replace the old one. Learn more!
Advance Directive vs. Power of Attorney: Key Differences
March 24, 2025
Advance Directive vs Power of Attorney. Understanding the key differences can help you make the right choices for yourself and your loved ones.
What Happens If You Pass Away Without a Will? - Florida tax Lawyers
March 3, 2025
What happens if you die without a Will is a question frequently asked by estate planning professionals, and We've tried to address it in our guide. Learn More!
Trust vs Will vs Probate: Which is Better for You?  - Florida Tax Lawyers
February 17, 2025
Trust, wills, and probate are three common legal tools for estate planning. But what are the differences, and which is best for you? Learn More!

CONTACT US

CONTACT US