Hey ,

If you missed the April deadline to file your 2023 federal income tax return, don't worry—the IRS has several options to help you. Here's what you need to know:

File and Pay Promptly

Filing your return and paying any taxes owed as soon as possible will minimize penalties and interest. The current interest rate for unpaid taxes is 8%, compounded daily. You can use IRS Direct Pay, a free service, to pay electronically.

Penalty Relief and Payment Plans

First-time penalty relief is available for those who qualify. Additionally, the IRS offers short-term and long-term payment plans for those unable to pay in full by the deadline. These plans provide up to 180 days or 72 months to pay off your balance.

Automatic Extensions

Certain taxpayers, including those in disaster areas or serving in the military overseas, automatically qualify for extra time to file and pay without penalties.

For more detailed information, please visit the IRS website or REPLY to this email, stating your needs. I will be happy to assist.

Thanks,

Your favorite accountant and tax professional, 

Folasade,

(202) 618-1295

[email protected]  

Hey Entrepreneur! I am Folasade Ayegbusi. I am an Enrolled Agent, Accountant, Ex-insurance Broker, Speaker, and Small Business Growth Strategist. Additionally, I am a Mother, and Entrepreneur.

I have helped entrepreneurs and small business owners save over $25 million dollars in lost revenue, tax assessments, penalties, and interests over the last 12 months. I am confident that I can assist you with all of your accounting needs.