How to get a tax extension to file your tax return later - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 58 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 26%
  • Publisher: 51%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

Coronavirus has upended the daily lives of millions of Americans, but taxes are still due on April 15

that covers all or part of your estimated tax bill — it will automatically process an extension for your tax return.

Taxpayers who don't file a tax return or a tax extension by the April deadline will be charged a penalty of up to 5% of the outstanding tax bill for every month the return is late. There's no penalty for filing a tax extension, but there may be penalties for late payments on any money owed to the IRS.

If you expect to have a tax bill, you're responsible for estimating the amount and paying it in full by April 15. A tax bill is the result of underpaying taxes throughout the year; either your employer didn't withhold enough money from your paycheck to cover your taxes, or if you're self-employed, you didn't pay enough estimated quarterly taxes.

If you don't pay your tax bill in full by tax day — whether you file an extension or not — you'll pay a penalty, typically 0.5% to 1% of any unpaid tax owed at the deadline, charged each month the tax remains unpaid . On top of that, the tax bill is also subject to federal interest rates.for taxpayers who owe less than $1,000 or paid the lesser of 90% of their tax liability for 2019 or 100% of the tax shown on the return for the prior year.

Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 729. in SE
 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.

If we are going to postpone anything, it should be tax filing day.. Move it to October 15th..

realDonaldTrump will cost over 1 million Americans to lose their jobs .. vote him out ..

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

How businesses are handling coronavirus delays, demand, and sales - Business InsiderThe coronavirus is impacting the largest companies and smallest startups alike. Entrepreneurs share the strategies moving their companies forward. you know, all those business actually struggling have the press to blame directly.
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »