Two Convenient Locations:
San Diego Office: (619) 283-7113
Julian Office: (760) 765-0343
Click links to access individual blogs
• Stay prepared to sell your businessPage: 1 2 3
• Great uses for your tax refund
• How to File Nonprofit Taxes
• 7 Common Missing Tax Return Items
• Is a Tax Surprise Waiting for You?
• School yourself on the student loan interest deduction
• The 6 Biggest Threats to Your Finances
• Last-Second Money-Saving Tax Moves
• Retirement Contributions Get a Boost in 2019
• 5 Estate Planning Myths
• Disaster Preparedness Tips for Taxpayers and Businesses
• Five Tax Breaks for New Parents
• Setting up Your Business Accounting System
• Ideas to Improve Your Financial Health
• It's tax-planning time
• Managing Money Tips for Couples
• 6 tax benefits of owning a home
• Five Great Finance Tips Everyone Should Know
• How to handle a gap in health care coverage
• Update on the Tax Cuts and Jobs Act
• When an extension makes sense
• Tax checklist for business startups
• Answers to commonly asked tax questions
• New FASB Standards for Nonprofit Accounting
• The best way to avoid an audit: PreparationPage: 1 2 3
• Boost your retirement savings now
• IRS Urges Travelers Requiring Passports to Pay Their Back Taxes
• Scam Alert: IRS Urges Taxpayers to Watch Out for Erroneous Refunds; Beware of Fake Calls to Return Money to a Collection Agency
• How to Get a Green Light for Commuting Expense Deductions
• Federal requirements for substantiating charitable contributions
• How to cut taxes under the new tax act
• FBI Warns of Online Dating Scams
• IRS issues 2018 standard mileage rates
• Year-end tax checklist
• The Equifax breach and you: be proactive
• Beware of Bogus Charities
• Planning A Wedding Over The Holidays?
Plan For Taxes Too
• Don't Include The IRS On Your Gift List
• Ready To Start Year-End Planning?
Focus On The Big Picture.
• Know When To Sell
• Put Your Tax and Financial House
• Are You Prepared For These Common
• Scams Against the Elderly:
Know the Danger Signs
• Tax Benefits of Corporate Retirement
• Maneuvering the Corporate
Retirement Plan Maze
• Documenting your Business Travel andPage: 1 2 3
• Maximizing your Travel and
• Deducting Business Meals and
• Do Yourself a Favor by Filing
• Do I Need A CPA?
• How to Save Money on Your Tax
• What To Do If You Can't Pay
• What To Do If You Haven't Filed
What To Do If You Can't Pay Your Taxes
A lot of people are facing financial difficulties at the moment and the IRS actually wants to help you if youre struggling to meet your tax obligations. You're not alone. The IRS is aware that many people may not be able to pay their taxes in full when they are due. What should you do?
First, make sure you file your tax returns. Late filing penalties have increased and are more severe than late payment penalties. To reduce penalties and interest, pay as much as you can with your return even if its just a small payment. Payments can be made by credit card, EFT, check, money order, cashiers check, or cash.
Next, evaluate your financial situation and consider the options you have to pay your taxes. The IRS will send a statement requesting payment. It is important to respond to these notices promptly. Consider your options immediately.
Payment options include requesting a 30- to 120-day payment extension, depending on the specific situation. This can give you time to recover from short term cash flow problems or to make plans to pay the tax in full by borrowing funds or liquidating assets.
Another option is a payment plan that allows you to pay the tax over a period of time. If the IRS determines that you cant afford payments now they may delay collection action on your past due taxes until your financial condition improves.
If you need help determining what course of action is best for your situation, Luers & Dyer can help you evaluate your options. With your consent we can also deal directly with the IRS to make payment arrangements on your behalf. Consult with Luers & Dyer or contact the IRS directly as soon as possible.
Mailing Address: P.O. Box 1934, Julian, CA 92036
Julian Office: 2902 Washington Street, Julian, CA 92036 (760) 765-0343 (760) 765-0150 Fax
San Diego Office: (By Appointment Only) 3751 37th St., #2, San Diego, CA 92105 (619) 283-7113
Correspondence: P.O. Box 1934, Julian, CA 92036 E-mail: rebecca(at)luersdyercpa.com jan(at)luersdyercpa.com
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