Personal Finance Tip of the Week: Owe the IRS? Experiencing hardship? Apply for a hardship extension!

If you owe tax with your federal tax return, but can’t afford to pay it all when you file, the IRS has options to help you keep interest and penalties to a minimum. File your return on time and pay as much as you can with the return.

Qualifying individuals may request an extension of time to pay and have late payment penalties waived as part of the IRS Fresh Start initiative. To see if you qualify visit and get Form 1127, Application for Extension of Time for Payment of Tax Due to Undue Hardship.

Previous Post
Business Tip Of The Week: What are sales & use taxes
Next Post
Business Tip of the Week: Single vs. Double Entry Accounting

No results found.

Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.