Monday, September 30

The IRS asks you to file your taxes, more if they owe you a refund


In a statement, the IRS was clear in saying that “penalties and interest will begin to accrue on outstanding balances. payment as of 17 May 2020. Taxpayers will automatically avoid interest and penalties on taxes paid before of May”

Not filing your taxes would leave you without receiving pending payments that the IRS may have with taxpayers.

Photo: SK / Pixabay

Luis Diaz

Almost a week after the deadline for filing tax returns expires 2020, 17 May, the Internal Revenue Services (IRS) urged taxpayers to meet their tax obligations, especially if you expect a refund .

If you are one of the people who has not filed your tax return, you should hurry, since assuming you do it before the deadline ends, you will face a delay from the IRS starting from the fact that the agency has had to process statements of the 2019.

A few days ago, Real America News informed you that the Taxpayer Defense Service reported that, 29 millions of families should wait for their refund , since the delay has to do with millions of returns being held for manual processing .

In March the IRS announced that it would extend the deadline for filing tax returns, originally, the season would end the day 15 of April. However, the federal agency gave a month and two more days for taxpayers to catch up.

The above, not only has to do with the enormous workload to which the IRS faces in the processing of returns and the pending pending that it accumulates, also with the fact that it gives the opportunity for taxpayers are not fined or have to pay late fees .

In a statement, the IRS was clear in saying that “penalties and interest will begin to accumulate in balances pending payment as of 17 May of 2021. Taxpayers will automatically avoid interest and penalties on taxes paid before May. ”

Therefore, the federal tax agency urged taxpayers who are owed a refund to file as soon as possible your tax return. The IRS stated that “most filed tax refunds are issued within 21 days ”, if it was filed digitally.

If you make your tax return on paper , traditional way, maybe your refund reach up to 60 days after you met your tax obligation . The reality is that it could be higher due to how the delays in the agency have occurred, then, it could even take months for you to have the money.

In addition to this, If you have not made your declaration, we suggest that you do it as quickly as possible, since if you do not do so, you could not only be penalized, you could also not receive late stimulus check payments and, therefore, plus-up payments, which are defined with the tax return 2020 .

If you still do not file your taxes, we recommend that you take the time to do so, you still have a few days, in case of doubts, contact the closest IRS office in your area or, failing that, contact a tax expert so you can resolve this pending.

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