Posts Tagged ‘avoid IRS penalties’

Taxpayers Who E-File Requests for Extension of Time to File Returns Must Still Pay Their Taxes By April 15

Friday, April 10th, 2009

The IRS urges taxpayers who need additional time to complete their tax returns to e-file their requests for extensions by April 15. All taxpayers can e-file a Form 4868, Automatic Extension of Time to File at no cost from a home computer. This is a convenient and secure way to receive confirmation of your extension for your records.
The extension gives taxpayers 6 more months or until October 15 to file
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IRS Announces Revised Voluntary Disclosure Terms for Taxpayers with Offshore Accounts

Friday, March 27th, 2009

The IRS announced new voluntary disclosure practices for offshore account holders. Voluntary disclosure can help taxpayers avoid prosecution for possible tax evasion and reduce taxes, penalties, and interest owed.  The IRS offers leniency for voluntary disclosure and Americans with IRS tax problems should take advantage of this policy to mitigate legal problems later.
While taxpayers can participate in the voluntary disclosure program before the IRS has initiated a civil or criminal
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Posted in Tax news and tips, Voluntary Disclosure | 2 Comments »