Always File on Time

    The May 17 tax deadline is almost here. If you know that you are going to owe the Internal Revenue Service (IRS), but are not able to pay the full amount, make sure that you file your complete Tax Return anyway. Why is that so important?

    Those who owe taxes and do not file on time may be given a Failure-to-File penalty. This would be in addition to the interest and other penalties added to the amount that needs to be paid. Filing an extension is not an extension on paying taxes due, they must still be paid by May 17. If that is not possible, pay as much as you can by May 17. You can also work with your Qualified Tax Professional to set up a payment plan with the IRS right now. There is no need to wait for that.

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