Every individual and business in the United States, according to federal and state law, is legally required to file tax returns on an annual basis. Since everybody files taxes – those who earn income and don’t face serious legal consequences – everyone should be tuned in with tips for tax filing in Tulsa, OK.
Extensions Can Stave Off Fees
The Internal Revenue Services (IRS) isn’t evil, despite the entity’s reputation. People can ask the IRS for extensions to file their tax returns, which are often approved. However, everyone should keep in mind that such extensions don’t mean that people can wait to pay the taxes they owe. This deadline is April 15 every year unless the date falls on a weekend or holiday. In that case, the deadline is the nearest day following that holiday or weekend.
Can’t Pay Everything at Once?
People who owe taxes aren’t able to put off their payments to the IRS. While they can draw those payments out through payment plans supported by the Internval Revenue Service, they must enter into such payment plans before each year’s filing deadline. This doesn’t mean that they can get away with having applied for such payment plans by April 15, either – those requests have to be approved first.
Learn More About Tax Filing Here
Brown, Chism & Thompson is a leading CPA firm that excels in tax filing in Tulsa, OK, read more about the firm at https://www.cpasok.com/.