It is important for everyone who owes the Internal Revenue Service recognize that though he or she may file an extension it is for the paper work the money is due for 2012 April 17. Delaying payment of a balance due will not delay the interest which means an increased balance due. For those of you who discover a payment is due but do not have the funds right away it is possible to establish a payment plan.
As a tax professional I do not advise my clients to file an extension if it is not necessary. For those who have owed money in previous years I encourage my clients to file quarterly estimated taxes or add (or increase) the withholdings on Social Security or Retirement benefits. It is also very important for those who are receiving unemployment benefits to have taxes taken out; should an individual obtain employment during the course of the year the tax free check could cause a balance due when a refund was expected. Now that it is the end of the tax season, and almost 1/3 of the way through the next, those who owe money are making quite a few financial decisions. Since I am not accepting new clients, because of my writing, it is good to have resources like the book written by Cora Parks.
“Reduce Your IRS Tax Penalties” by Cora Parks will help those who do not have the luxury of advice from a Tax Professional, those who prepare their own taxes, as well as those who want a second opinion.
““The book, Reduce Your IRS Tax Penalties” deals with getting penalties removed for actions that have already taken place.” Cora Parks
Since this book addresses the penalties it would be well worth your while to download this low-cost ebook today!