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Financial Planning / Tax Strategies
|Subject: Tax Tip||Date: 4/14/2001 6:25 PM|
|Author: AHOLLYS||Number: 50258 of 124778|
2 days until April 16!
April 14, 2001
Should I file at the last minute if I owe the IRS?
If you have your return ready, it is a good idea to file sooner rather than later. You'll avoid excess traffic, either on the Web or at the post office. Also, if the IRS rejects the return for any reason, you may have time to correct and refile it by the due date. If you file electronically, you can wait and mail your tax payment on April 16, 200l, or request a direct debit from your account to take place on that date. Even if you do not have money to pay your tax liability, file your return on time. The penalties are less if you file without making a payment than if you don't file at all. And, you can file Form 9465 to request an installment payment agreement.
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