Spend Less Save More: Already thinking Tax Extension?

5 years ago

 

Feeling a bit overwhelmed and need more time to file. You can put in a request that give you six more months to hand in your return. The extension doesn’t apply to the tax money you owe, however so, you need to estimate how much you think you owe and send that amount to the IRS along with the extension paper work – form 4858 at irs.gov  If the payment  you send falls short of what you really owe, you have to pay penalties and interest, which continues to accrue until you settle the debt. As long as you owe less than 25,000 you can automatically set up a payment plan at irs.gov

If you owe more than that you must speak with an agent in person to work out an arrangement you can afford.  For more tips and savings visit www.where2save.com

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