IRS gives relief to unemployed taxpayers

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IRS gives relief to unemployed taxpayers Empty IRS gives relief to unemployed taxpayers

Post by Guest on Thu Mar 08, 2012 9:08 am

The agency said Wednesday it will give certain taxpayers a six-month grace period on "failure-to-pay" penalties, which are typically assessed each month a taxpayer is late paying their taxes.

Without the grace period, a taxpayer who is late paying their taxes initially incurs a fee of 0.5% of their tax bill. That fee may increase the later they become -- with a cap of 25%. But now some taxpayers won't incur any fees until Oct. 15.

Even though taxpayers won't get hit with the penalty, they will still accrue interest during the six-month period. Over the course of a year, that amounts to about 3% of the annual tax bill.
http://finance.yahoo.com/news/irs-gives-relief-unemployed-taxpayers-191800166.html

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Post by elvis44102 on Fri Mar 09, 2012 4:35 am

awful big of them...........
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Post by superstevies on Tue Mar 13, 2012 2:31 pm

The IRS can kiss my A@! .....I have a tax lein & that is why I didn't get one of the jobs I applied for. Didn't pass background because of it.

They threaten me all the time. I say do what you have to do. My credit is already bad, I have a state & federal Lein. I don't own anything, My bank account has $1.23 been that way for over 6 months. Bof A is ready to close it. So I say to them put me in jail...then I don't even have to worry about a place to live or how to eat ect...they say they don't want to do that. So what ever....they deny my hardship and I say what does a perosn have to do to be declared a hardship? I own nothing, I have nothing, I live with a friend, and get $200 on an ebt card to eat.
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