DEADLINE FOR FILING 2018 TAX RETURN
It’s almost here… Taxpayers who had previously requested an extension to file their 2018 tax return, this year’s deadline is Tuesday, October 15. If your client is getting a refund, there is no penalty for filing return after April 15th. FYI…they don’t even need to file extension! So, if you have clients for whom you filed an extension please make sure to submit their tax return before October 15.
What if the taxpayer owes the IRS but can’t pay?
If your client has a balance due but can’t afford to pay, there are a few options available to them. Your client can always file their return and wait for a bill in the mail, which is most certainly going to have some interest and penalties charges. They can pay the balance on a credit card, enter into an installment agreement or work out an “offer in compromise.”