Archive for March, 2009

I recently appeared on The Chuck Morse Show on WBNW 1120AM (Boston, MA) to encourage taxpayers to file thier taxes by April 15 – even if they don’t have the money to pay the taxes they owe to Uncle Sam.
There’s going to be a lot of people caught up in this recesiion, and they’ll quickly find out that they owe taxes for 2008, if they don’t know that already. I know a lot of people are not going to want to file their tax returns. And then they end up not filing for a number of years because the IRS is slow in getting to their delinquent tax returns.

And I’ll tell you, most of my tax relief clients who come to us for IRS help fall into that category.

What you want to do is even if you owe for 2008 and you’re not in compliance for 2009 (which means you’re not withholding correctly or haven’t filed any estimated payments for ‘09) is:

File your tax return by April 15 to avoid IRS problems.

You will also need to send in a check for $10. This gives you 2 huge advantages.

1. It helps you avoid the 25% failure to file penalty.

2. It creates a computerized record at IRS that shows you filed on time and you made a good paid effort to pay your taxes.

You will still have a failure to pay penalty, but it’s much less. Then you can work with a specialized tax resolution expert to help you negotiate a…