IRS Has Options For Those Who Cannot Pay By April 15

Tuesday, April 08, 2014

With one week left before the April 15 tax deadline, the Internal Revenue Service today reminded Tennessee taxpayers that options are available if they can’t file their forms or pay their taxes on time. They can even submit filing extensions and request payment options online.

"Don’t panic if you need more time to file or pay your taxes," said IRS spokesman Dan Boone. "Requesting more time to file is easy, and there are several payment options."

The IRS expects Tennessee taxpayers to submit about 190,000 filing extension requests by the April 15 deadline.

Nearly 3 million tax returns are expected to be filed by Tennesseans this year, with about 590,000 of those likely to be filed in April alone.

To avoid the late filing penalty, taxpayers should file a tax return or an extension form by April 15 even if they can’t pay the full amount due. Tax returns or extension forms can be filed online free at IRS.gov through the Free File program, which offers free use of brand-name tax software. Lower-income and elderly filers who need help completing their taxes can call 1-800-906-9887 to find free tax help sites in their area.

More Time to File - People who need more time to fill out their returns can get an automatic six-month extension. The fastest and easiest way to get the extra time is through the Free File link on IRS.gov. In a matter of minutes, anyone, regardless of income, can use this free service to electronically request an automatic tax-filing extension on Form 4868. The form asks taxpayers to estimate their tax liability and to pay as much as possible of amount they expect to owe when they file their return.

Taxpayers have several quick and easy ways to electronically pay what they owe, including the Electronic Federal Tax Payment System, electronic funds withdrawal or paying by credit or debit card. To access these options, visit IRS.gov and search for "e-pay."

More Time to Pay - Taxpayers who have finished their returns should file by the regular April 15 deadline and pay as much as they can, even if they can’t pay the full amount due. Those who are struggling with unpaid taxes may qualify for a payment agreement, which can be set up online in a matter of minutes.

Those who owe $50,000 or less in combined tax, penalties and interest can use the Online Payment Agreement tool at IRS.gov to set up a monthly payment agreement for up to 72 months. Taxpayers can choose this option even if they have not yet received a bill or notice from the IRS.

Some struggling taxpayers may qualify for an offer-in-compromise. This is an agreement between a taxpayer and the IRS that settles the taxpayer’s tax liabilities for less than the full amount owed. The IRS looks at the taxpayer’s income and assets to make a determination regarding the taxpayer’s ability to pay. To help determine eligibility, use the Offer in Compromise Pre-Qualifier, a free online tool available on IRS.gov.

Details on all filing and payment options are on www.IRS.gov.


Chamber's Second Annual Construction Seminar Took Place Today

The Chamber’s Second Annual Construction Seminar took place today and provided training and networking opportunities for construction-related businesses and anyone interested in forging business connections with minority, women and veteran owned businesses, small businesses and HUBZone businesses.  Major employers and prime contractors such as Rentenbach Constructors Incorporated ... (click for more)

New Hamilton County Businesses

Here are the new business licenses from the County Clerk's office: ALL ACCESS CAPTIONS 2124 HAVEN CREST DRIVE CHATTANOOGA, TN 37421   ALL AROUND MAINTENANCE 5209 TENNESSEE AVENUE CHATTANOOGA, TN 37409   BEAUTIFUL MORNING CLEANING SERVICE 7510 AUSTIN DRIVE APT B CHATTNOOGA, TN 37416   BEAUTY KORNER 3402 CLIO AVENUE CHATTANOOGA, TN 37407 ... (click for more)

Erlanger Refinancing To Provide Cash For New Children's/Women's Hospital, $50 Million Erlanger East Expansion, $8.5 Million Surgical Improvements

Erlanger Health System officials said an overhaul of the hospital's debt will include $70 million in new loans for several major hospital projects - including $11.5 million toward a new $30 million Children's/Women's Hospital. The overall cost of the latter facility is $30 million, but the hospital is seeking significant outside gifts and support. It will also pay for a $50 million ... (click for more)

Legendary Radio Broadcaster Luther Dies At 92 After Record 74 Years On The Air; Funeral Will Be Thursday At 2 PM At Engel Stadium

Legendary radio broadcaster Luther Masingill died early Monday morning at Memorial Hospital surrounded by family and friends. He was 92 and had been on the air for a record 74 years. Funeral services will be held on Thursday at Historic Engel Stadium, 1130 E 3rd St., at 2 p.m. with Pastor Todd McElyea officiating.   Honorary pallbearers will be the staff at ... (click for more)

Chattanooga Has Lost Its Most Popular Citizen - Luther Masingill

Chattanooga has lost its most popular citizen – Luther Masingill. Although we are saddened we cherish the memories.  All of us have a Luther story.  Mine is the first time I met Luther.  This was before TV and all of Chattanooga listened to Luther on the radio.  I was 12-years-old.  Some of my buddies and I had gone to the State Theater in downtown ... (click for more)

Roy Exum: UT Ain’t Heard Nothing Yet!

Just moments before Florida would seal a football 10-9 victory over Tennessee in early October, the student section in Neyland Stadium stooped to a new low when it vociferously chanted, “F*** you, Florida! F*** you, Florida!” It was shocking, a loud and vulgar display of all that sportsmanship isn’t, and served as a great embarrassment to Knoxville and the university. Jimmy Cheek, ... (click for more)