Paying tax on time is a responsibility of every citizen and if you have still not paid off those dues then do consider paying them as soon as possible. The tax that you are paying to the government will be used for you in different ways. Therefore, be a responsible citizen and pay income tax on time. However, the circumstances will not always be favorable and you may not have enough money to pay off income tax. If you can relate to the last line then the following write-up can be quite useful for you.
IRS currently not collectible tax program is made for individuals who are not able to pay off the outstanding tax amount on time because of financial crisis. In case, you are also struggling in financial crisis then you can apply for getting tax redemption under this program. Once an individual is considered as a delinquent taxpayer, the taxes imposed on him are temporarily suspended. However, even if the individual qualifies to be a delinquent taxpayer, he/she is liable to pay owed money along with the interest accrued after gaining financial stability.
The financial status of the delinquent taxpayer is closely monitored, so that he/she can be asked to pay back the owed tax and interest charged once he/she is financially stable. The IRS also asks the tax payer to send a duplicate copy of his tax returns to match the information that is filed by him/her. Therefore, if you are willing to apply for this program, make sure that the returns are filled accurately without any mistakes.
IRS currently not collectible tax program is made for individuals who are not able to pay off the outstanding tax amount on time because of financial crisis. In case, you are also struggling in financial crisis then you can apply for getting tax redemption under this program. Once an individual is considered as a delinquent taxpayer, the taxes imposed on him are temporarily suspended. However, even if the individual qualifies to be a delinquent taxpayer, he/she is liable to pay owed money along with the interest accrued after gaining financial stability.
The financial status of the delinquent taxpayer is closely monitored, so that he/she can be asked to pay back the owed tax and interest charged once he/she is financially stable. The IRS also asks the tax payer to send a duplicate copy of his tax returns to match the information that is filed by him/her. Therefore, if you are willing to apply for this program, make sure that the returns are filled accurately without any mistakes.
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