West Palm Beach Late Tax Return Help: What You Need to Know
Tax season can be a stressful experience, especially when there is a soon-approaching deadline. Fortunately for West Palm Beach locals, late tax return help is available to make sure that you don’t miss your filing deadline. Make the process less stressful by taking advantage of this invaluable assistance! If you’re in this situation, you need to know what options are available to you and how you can get help.
Why File Your Taxes on Time?
Before discussing how to get help with late tax returns, it’s important to understand why filing your taxes on time is essential. The main goal is to dodge fines and interest payments. When you do not submit your taxes by the deadline, a 5% penalty of what you owe will be imposed every month up until it reaches 25%. Furthermore, the unpaid balance will incur interest charges that can add up quickly and become a hefty burden. It is also important to remember that filing taxes on time secures any tax refunds you are eligible for. Quickly filing your taxes will mean you get your refund sooner rather than later. To ensure no delays, it’s important to file as soon as possible if a refund is owed!
When are taxes due in the United States in 2023?
In 2023, taxes should be submitted by April 18th, 2023 known as “Tax Day” in the United States. If you don’t think you will be able to meet this deadline, continue reading for more information on what your options are.
Why Late Taxes Can Affect Your Credit Score
Late taxes can t impact your credit score significantly. The Internal Revenue Service (IRS) can report late balances to credit bureaus, and having unpaid taxes in collections may cause your score to decrease. This will make it more difficult for you to get loans or lines of credit in the future. That’s why it’s important to take the necessary steps such as filing an extension, or seeking assistance in order to ensure that you file your taxes on time.
Your Options If You Missed the Tax Filing Deadline
There are several options available to help you if you missed the deadline for tax filing.
- File Your Taxes As Soon As Possible: File your taxes as soon as possible. Time is of the essence; procrastinate too long and you’ll be burdened with additional financial penalties and interest charges. Submitting your taxes electronically is free with the IRS Free File system or a tax preparation program. If you prefer paper filing you can easily acquire necessary forms directly from the Internal Revenue Service website for free. If you are in need of professional help, contact Creative Tax Solutions, a West Palm Beach Late Tax Return Help professional
- Request a Tax Filing Extension: If you need more time to file your taxes, then don’t hesitate to request an extension! This six-month reprieve will give you the opportunity to finish up and submit your tax return without pressure—but keep in mind that it won’t extend any payment deadlines for taxes owed. If you need extra time to file your United States Income Tax Return, submitting a Form 4868, is going to be the best option. This form is an Application for a time extension to file.
- Get Help from a Tax Professional: If you’re feeling overwhelmed or uncertain about how to tackle your overdue tax return, it may be a good idea to enlist the aid of an experienced taxation expert. A professional in taxes can assist you with filing your returns accurately and provide tips on how to cut down fees and interest rates associated with late payments. Creative Tax Solutions helps Florida taxpayers with West Palm Beach late tax return help.
- Contact the IRS: If you’re unable to pay the taxes owed contact the IRS to discuss your options. The IRS can provide you with payment plans and other forms of assistance to help you manage your tax debt, giving you greater financial freedom.
Tax Installment Payment Plan
You may be eligible for the IRS Tax Installment Payment Plan, which is an agreement that allows you to pay taxes owed in monthly installments. To learn more about the requirements and apply, contact our team or visit the IRS government website for additional assistance.
West Palm Beach Late Tax Return Help
In conclusion, there are options available to help with your West Palm Beach Late Tax Return concerns. The key is to file your taxes as soon as possible and seek help from a tax professional if needed, like Creative Tax Solutions. By taking action quickly, you can reduce penalties and interest charges and avoid any additional stress.
If you are having issues with your tax submission and are getting audited by the IRS, visit: https://creativetax.io/tax-problems/tax-audits/
