Tax Return Danbury CT
The past 25 years of experience preparing individual and business tax return has been a rewarding service. We understand how challenging taxes can be. We know accuracy and attention to detail is overly important.
If you don’t the IRS will!
Failure to file your tax return and respond to notices from the IRS will likely result with them filing it for you. And you will be classified as a single filer hampering your deductions. Your tax assessment will be higher than what you actually owe.
Did you know it’s easy to get a filing extension? 1040 tax Return.
As long as you file form 4868 before April 15th the IRS usually grants an automatic 6 month extension.
If the IRS owes you a refund there’s no penalty for filing or paying late fees.
IRS tax penalties are based on the amount owed by you. This encouraging news simply means if you your tax return is not executed on time the IRS won’t penalize you as long as it owes you a refund.
If you can’t pay on time it’s at least file on time.
Why you may ask? Failure to pay is 0.5 percent of the overdue amount per month. Failure to file on the other hand is 5 percent of the overdue amount per month. Need we say more.
If you make an error on your return form an amendment can be made.
You can file Form 1040X, an amended tax return for up to 3 years from the date you filed your original return or within 2 years of paying your taxes. If the on the other hand the error was mathematical, you don’t have to file an amended tax return.
Renouncing your citizenship?
Just because you’re renouncing your US citizenship doesn’t mean you won’t be taxed at least not after the first 10 years. The IRS will require this only if you expatriated for the purpose of evading taxes.
Tax laws change constantly. This is why it is paramount to attain the services of a professional tax preparer.