Learn what to do if you’re struggling to pay your taxes by the October 15th extension deadline. We’ll cover IRS payment plans, options for those who can’t pay in full, and how to avoid unnecessary penalties.
The video covers essential information on managing the tax extension deadline in 2024 and the consequences of not paying your taxes on time. Learn how to navigate IRS payment plans, the difference between short-term and long-term options, and what to do if you can’t pay your balance. It also discusses potential penalties and interest for unpaid taxes, as well as how to communicate with the IRS to avoid further complications. Key topics include understanding payment options, knowing what to expect if you miss the deadline, and steps to take to avoid penalties. It’s designed for anyone looking for practical advice on handling their taxes effectively.
How to Handle the Tax Extension Deadline: Avoiding Penalties and IRS Payment Plans Explained
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Money Instructor does not provide tax, legal, or investment advice. This material has been prepared for educational and informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or investment advice. You should consult your own tax, legal, and investment advisors regarding your own financial situation. Although the information has been researched and vetted beforehand, it may not be current at the time of viewing. Please note, the context of financial investments can be complex and dynamic, necessitating professional advice tailored to your unique circumstances.
