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April 13, 2009 What to do if you can’t pay your taxesPosted: 09:18 AM ET
Business Correspondent Jennifer Westhoven April 15th is coming right up. Some people may be behind because they haven’t done the work, but others may be worried that they just can’t pay the bill! It’s human to procrastinate, but you’ll only pay for it later. The most important thing is to tell the IRS that you’ll be late. Why: On midnight after April 15th, the clock starts running, and you may have to pay heavy penalties and interest. Plus, it’s easy. You can do it right from your computer. Click here for the IRS form. The IRS says it understands that American families are in very tough times, with millions out of work. So it’s message is: Let’s work things out. IRS Commissioner Douglas Shulman is due at the National Press Club later today to say what the IRS is doing to help those in distress – like giving IRS employees the flexibility to adjust or defer tax payments for some. Questions? Leave them in the comments field below. Posted by: Business Correspondent Jennifer Westhoven |
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