(Wyoming) It's been a rough week for the state. But it'll be even more difficult for people who've yet to file their income taxes if they end up owing the federal goverment. For those worried about tax season coming up, we have a few tips for you. Not filing on time is not advisable. You will pay late fees on top of what you already owe. Waiting to file until you can afford to pay is the worst possible choice. Instead, the IRS offers several options for people going through financial hardships
The first is to apply for a payment plan
can do this before you even file your taxes. It's for those that owe less
than $50,000 on their return. What you will need is a valid email address,
your Social Security Number (or spouse's if filed jointly) or Individual
Tax ID Number, and your current personal information (like your address.)
If you're still filing yourself by hand (and not with automated tax
software that will undoubtedly ask you if you need a payment plan,) the
form to fill out for a payment plan is 9465, available here
If you've already filed and you know you owe, don't ignore tax bills you
may get in the mail. You can contact the IRS to work out payment plans.
When you file, pay as much as you possibly can and notify the IRS that you
will have to have to pay the rest later. Their website has several online
payment options to keep up with what you owe.
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*Feature photo h/t Ken Teegardin