File Those Taxes !
Others have already opened discussions on the debate over the necessity of paying taxes, the price of civilization, etc. So I will take another tack (which does not preclude subjecting you a tome on my views of taxes later)
For those who read us, and for the few among those who respect my views, let me offer a bit of advice.
File your taxes and file them now !
I don’t care if you can’t afford to pay, I don’t care if you don’t like filing, get those returns in now.
Why you might ask ?
Well try this on for size.
If you file your taxes and cannot pay them the cost of interest and penalties starts in the 6-10% range.
If you do not file your taxes, even if you can afford to pay them, the penalties START in the 60% range.
Now I may not be a math genius but 10% versus 60% makes the choice pretty easy.
Get those returns in, then start working on how to pay for them. The government has many programs to help you set up payment plans or even to forgive debt if you are really unable to pay.
Just a bit of free legal advice (which is worth what you paid for it).
One Response to “File Those Taxes !”
You might also add that the IRS is making multiple public statements to the effect that they may be willing to waive the interest payments in some circumstances but that they can only do this for people who file tax statements on time.
I guess there was a good reason for putting those Democrats with tax problems in charge, they seem to understand a little better