EPISODE · Jul 10, 2020 · 12 MIN
Taxpayers should file on time even if they can’t pay their full tax bill
from Tax & Current Accounting Topics
Taxpayers should file on time even if they can’t pay their full tax bill https://www.irs.gov/newsroom/taxpayer... https://accountinginstruction.info Taxpayers should file their tax return by the deadline even if they cannot pay the full amount due. Otherwise, they may end up owing even more because penalties and interest can cause a taxpayer's debt to grow. If a taxpayer owes taxes, but can't pay by the July 15, 2020 deadline, they should: File their tax return or request an extension of time to file. Taxpayers who can't file their return on time, should request an extension to file. Without this extension, they may face a failure-to-file penalty.
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Taxpayers should file on time even if they can’t pay their full tax bill
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