Calixte & Associates.

Can’t Pay Your Taxes? Here Are A Few Things To Consider.

Generally, tax due occurs when a wage earner has under-withheld on his or her payroll or a self-employed individual failed to make adequate estimated tax payments during the year. This can be a huge problem for those who are unable to pay their liability.
It is generally in your best interest to make other arrangements to obtain the funds for paying your 2022 taxes rather than be subjected to the government’s penalties and interest for payments made after April 18, 2023. Here are a few options to consider.

1- Filing Extensions – while applying for an extension give you additional time to file your return, it does not give you additional time to pay any tax liability shown on the return. You should estimate your tax liability and pay it with your extension. The penalties and interest on the amount due will continue to apply as of the original due date of the return.

2- Not Filling - Many people choose not to file their returns and not file for an extension either because they know they simply cannot pay. Big mistake! The worse thing you can do is wait until you can pay to file your returns. By doing that, you have just made the problem worse. Now you’re liable for the failure to file as well as the failure to pay. Let me add that the failure to file is 5 percent per month of the tax liability shown on the return, whereas the failure to pay is only one half of 1 percent. So, file your taxes on time even when you can’t pay.

STILL HAVEN’T FILED YOUR 2020 & 2021 INCOME TAX RETURNS! YOU ARE LEAVING A LOT OF MONEY ON THE TABLE. IT IS NOT TOO LATE TO CLAIM THE 2020 & 2021 RECOVERY TAX REBATE CREDIT; BUT YOU HAVE TO FILE YOUR RETURN TO CLAIM THE CREDIT. FILE YOUR RETURN TO CLAIM THE CREDIT EVEN IF YOU’RE NOT REQUIRED TO FILE. CALL TOTAL TAX RESOLUTION AT 516-243-7397 IF YOU NEED HELP FILLING YOUR 2020 & 2021 TAX RETURNS. OUR STAFF IS KNOWLEDGEABLE AND DEDICATED; AND OUR SERVICE IS AFFORDABLE AND PROFESSIONAL. CALL US TODAY. YOU’LL BE GLAD YOU DID!

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DO YOU NEED HELP WITH YOUR TAXES? ALBERT EINSTEIN ONCE SAID THAT THE HARDEST THING IN THE WORLD TO UNDERSTAND IS THE INCOME TAX. THANKFULLY, AT TOTAL TAX RESOLUTION, OUR STAFF ARE EXPERTS IN INTERPRETING AND UNDERSTANDING THE INCOME TAX CODE SO YOU DON’T HAVE TO. CALL US AT 516-243-7397 IF YOU NEED HELP WITH YOUR TAXES. CALL US TODAY. YOU’LL BE GLAD YOU DID!

NEED HELP WITH YOUR TAXES? AS APRIL 15TH APPROACHES, MANY OF YOU ARE WORRIED AND STRESSED OVER YOUR TAXES. THANKFULLY, TOTAL TAX RESOLUTION IS HERE TO HELP. AS SPECIAL ENROLLED AGENTS, OUR STAFF ARE AMERICA’S TAX EXPERTS. ENROLLED AGENTS ARE THE ONLY GROUP OF TAX PROFESSIONALS WHO ARE LICENSED BY THE DEPARTMENT OF THE TREASURY/IRS TO DO TAXES. OUR STAFF ARE EXPERTS IN INDIVIDUAL TAXES, BUSINESS TAXES, TRUST AND ESTATE TAXES. LET US HELP YOU WITH YOUR TAXES AND TAKE YOUR STRESS AWAY. CALL TOTAL TAX RESOLUTION AT 516-243-7397. CALL US TODAY. YOU’LL BE GLAD YOU DID.