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Originally Posted by NR3062 I was looking for a 2nd Opinion on some past tax years. I went through a divorce recently and my ex wife has not come up with information I need to file taxes in 2011 and 2012. I have filed all other years. With that being my accountant recently did a return for both years and came up with a rough figure of what I would owe. I have already been hit with the 25% late payment penalty but still am accruing interest on the amount owed. I want to just send them some money for those 2 years based on that calculation just to stop the interest from continue to pile up. When we file it will be a less number because there are items that will drastically reduce the amount owed.
Could I just send the IRS a check and peg it for certain years?
Thanks for any suggestions. |
yes aslongas you send the checks on time The IRS imposes penalties for late payment of tax, for late filing of a tax return, or both. The IRS also charges interest on any unpaid tax.as the IRS finds an underpayment, you will have to make arrangements with the agency to bring your account current. The agency will also levy penalties and interest, although you may be able to have them reduced or even eliminated. The IRS also charges interest on your unpaid tax, unpaid penalties and unpaid interest. The interest rate is variable, but is 3 % above the federal short-term lending rate. after the IRS audit, you get a final statement showing what you owe. However, you don't owe the taxes as of the date of the audit. You owe the taxes from the date that you should have paid them. If the audit comes 3 years after you should have paid the taxes, you'll be billed for the taxes as well as three years' worth of penalties and interest. Furthermore, penalties and interest will keep accruing after the audit until you pay off your balance in full. The IRS will allow you to request leniency so penalties and interest charges can be waived. To receive a waiver, you will need to give the agency a good reason for allowing you to escape the penalty. If you could document that you were following the instructions of an IRS agent and his bad information caused you to be subject to penalties, that might be reason enough. Cases of extreme hardship may also qualify for a penalty waiver