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The first requirement for resolving an IRS or state tax debt is tax compliance. Contrary to what many people think, if you owe back taxes, your first priority should actually be paying the current year. Those that don't withhold or pay their current taxes often find themselves in a vicious cycle of constantly struggling to re-pay back taxes and continually owing when it comes time to file again.
The free tax-filing program is a step to reduce the obstacles and confusions faced by the taxpayers in filing up the unfiled tax returns. There are various online tax return filing sites, which electronically file the income tax. This has been made possible by the collaboration between the internal revenue services and the free file alliance, which is composed a group of members of private software companies.
All the taxpayers who haven’t paid their tax returns that are due should file all their tax returns whether or not full payment can be made along with the return. A taxpayer who files late for the tax returns is eligible for a payment plan. After plans are approved then all the plans for the payments require continued conformity with all filing and payment responsibilities.
There are certain facts about back tax filing:
How to extend your filing deadline
Note: you can get an automatic six month extension of time to file from the IRS.
Some things to remember about filing extensions:
• The File Form you need is 4868, “Application for Automatic Extension of Time to File U.S. Individual Income Tax Return”, with the IRS by the April deadline, or make an extension-related electronic payment.
• The extension will also give you extra time to get your paperwork to the IRS, but it does not extend the time you have to pay any tax due.
A tax system is a very complex one, requiring an individual to file returns, pay taxes, and wait for refunds and countless many things. Many people just ignore the first step itself that is they do not file a return at all. However, it is very important to file a return to the best of your knowledge. Not filing a return can lead to heavy damages and penalties, including the late payment interests and sometime even tax liens or tax levies. The easiest way out, if you have not filed a return is to file a back tax return.
Taxes are the topics of many a debates, symposiums and discussions (both off and on water cooler types). But whether they are scoured at and the taxmen hated or praised as essential (very rarely) they have existed ever since any remnants of governments have been there in the human history. All governments whether they are monarchies, democracies, federal structures or despotic alternative have always relied on taxes to run the entire mechanism of the nation.