For those about to miss the deadline for filing a 2015 tax return or paying taxes, there’s hope. MWE Tax Partner Lance Christensen offers advice via PBS Next Avenue on what can be done ahead of this year’s April 18th deadline.
“…failure to file a return or an extension “could result in a 5 percent per month penalty up to 25 percent of the unpaid balance,” said Lance D. Christensen, partner and CPA with Margolin, Winer & Evens, an advisory firm in Garden City, N.Y.”
“You should come to the table prepared to share information about assets, income and expenses with the IRS because they’re going to need it before coming to a [pay installment] agreement,” said Christensen. “The IRS is more flexible than they are sometimes given credit for, but at the end of the day, they are going to protect the government’s interests.” Read More>>