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Tuesday, May 30, 2023

Missed the April 18 deadline? File your return now

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Revista Latina NC “EL lugar donde descubrimos muchas culturas, pero el orgullo de pertenecer a cada una nos une”. Revista Latina NC tiene el propósito de promover los Negocios, Grupos Musicales, Artistas Latinos así como los Servicios y Eventos a través de las Sociedades, Instituciones, Academias, Asociaciones y Grupos que involucran a nuestra comunidad Latina. Consideramos parte importante de nuestra comunidad la difusión de estas actividades con el fin de recordar nuestras tradiciones como países latinos y compartir con el mundo lo enriquecedor de cada una de nuestras culturas. Una de las principales caracteristícas que distingue a Revista Latina es que todos sus espacios están diseñados para que sus seguidores puedan ser parte de ella, tenemos espacios para todos aquellos que gustan de realizar artes, que escriben o componen, los que realizan eventos sin fines de lucro, para todos aquellos que tengan un buen propósito hay un lugar.

WASHINGTON — The IRS today urged taxpayers who missed the Tuesday, April 18, deadline to file their return as soon as possible. Taxpayers who owe taxes and missed the deadline without requesting an extension should file their return as soon as possible to limit penalties and interest. For struggling taxpayers unable to pay their tax bill, the IRS has several options available to help.

The IRS also reminds taxpayers who are due a refund that they will not be penalized for filing late. People should not overlook filing a tax return. Each year, more than 1 million taxpayers miss a tax refund; The IRS is reminding those who didn’t file in 2019 that time is running out to get any refund owed to them.

For 2022 tax returns due April 18, 2023, some taxpayers automatically qualify for additional time to file and pay taxes owed without penalties or interest, including:

  • Members of the military who served or are currently serving in a combat zone. They may qualify for an additional extension of at least 180 days to file and pay taxes.
  • Support personnel in combat zones or in a contingency operation in support of the armed forces. They may also qualify for a filing and payment extension of at least 180 days.
  • Taxpayers outside the United States. U.S. citizens and resident aliens living and working outside of the United States and Puerto Rico, including active duty military who do not qualify for the combat zone extension, are eligible for a two-month filing and payment extension.
  • Some disaster victims. Those who qualify have more time to file and pay what they owe.

Don’t overlook the presentation; people can miss out on a tax refund
Taxpayers who choose not to file a return because they do not earn enough to meet the filing requirement may lose the opportunity to receive a refund due to potential refundable tax credits. The most common examples of these refundable credits are the Earned Income Tax Credit and the Child Tax Credit . Often, taxpayers fail to file taxes or claim a refund for these credits and others to which they may be entitled.

There is no penalty for filing after the April 18 deadline if a refund is due. Taxpayers are encouraged to use electronic filing options, including IRS Free File, which is available on IRS.gov through October 16, to prepare and electronically file 2022 tax returns.

Taxpayers can track their refund using the Where’s My Refund? on IRS.gov, IRS2Go or by calling the automated refund hotline at 800-829-1954 . Taxpayers need the primary Social Security number on the tax return, the status of the return, and the expected refund amount. Information about the status of the refund is updated daily so there is no need to check more frequently.

File and pay what you can to reduce penalties and interest
Taxpayers should file their return and pay their taxes as soon as possible to reduce penalties and interest. An extension to file is not an extension to pay. An extension to file the return provides an additional six months with a new filing deadline of October 16. Penalties and interest are applied to taxes due after April 18, and interest is charged on taxes and penalties until the balance is paid in full.

Filing and paying as much as possible is key because the late filing penalty and late payment penalty add up quickly.

Even if a taxpayer cannot immediately pay all taxes due, they should still file a tax return to reduce potential late-filing penalties. The IRS offers a variety of options for taxpayers who owe the IRS, but cannot pay . For more information, see the penalties page on IRS.gov.

Taxpayers may qualify for penalty relief if they have filed and paid on time for the last three years and meet other important requirements, including paying or arranging to pay any taxes owed. For more information, see the First Time Penalty Reduction page on IRS.gov.

Pay taxes due electronically
Those who owe taxes can pay quickly and securely through their IRS Online Account, IRS Direct Pay, debit or credit card, or digital wallet, or they can apply online for a payment plan (including a payment agreement). in installments).

Taxpayers who pay electronically receive immediate confirmation when they submit their payment. With Direct Pay and the Electronic Federal Tax Payment System (EFTPS), taxpayers can receive email notifications about their payments. For more payment options, visit IRS.gov/payments .

Selection of a tax professional
The IRS offers tips to help taxpayers choose a tax professional to help with tax return preparation. The Directory of Federal Tax Return Preparers with Select Qualifications and Credentials can help taxpayers find tax return preparers who have a professional credential recognized by the IRS or who have completed the IRS requirements for the Program Annual Presentation Season.

Taxpayer Bill of Rights
Taxpayers have fundamental rights under the law that protect them when they interact with the IRS. The Taxpayer Bill of Rights presents these rights in 10 categories. IRS Publication 1, Taxpayer Rights , highlights these rights and the agency’s obligation to protect them.

Image by Steve Buissinne from Pixabay

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