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Archive for March, 2017

  • 1. What Happens if I Don’t File My Taxes on Time?: The deadline for filing your taxes is fast approaching — this year, thanks to a weekend and a holiday, the deadline is April 18, 2017. But, life can be busy! Maybe your taxes are particularly complicated this year, or maybe you just don’t have the time to sit down and sift through the paperwork. So, what happens if you don’t file your tax return on time? If you’re getting a refund on your taxes this year, you don’t need to panic — you have until April 18, 2020 to claim your refund (or until October 16, 2020 if you filed an

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  • 2. Virginia Offers 2017 Tax Amnesty Program: Virginia's 2017 Tax Amnesty Program lasts from Sept. 13 to Nov. 14, 2017 If you have been agonizing over back taxes owed and mounting interest and penalty fees adding up, there may be some relief on the horizon for you. The Commonwealth of Virginia recently announced that it will be offering a Tax Amnesty Period in 2017 that will allow qualifying residents and business owners to have a portion of penalties and interest owed waived if they pay off their balances. This could amount to thousands of dollars in savin

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  • 3. What to do if You Can’t Pay your Taxes: The April 18 deadline to file your tax return is fast approaching, which means taxpayers have two options: send out your 2016 return to the IRS by the deadline or file for an extension by that date. But what if you don’t have the funds to cover what you owe? What if you can’t pay your tax bill? If this is the case, the good news is you have some options. But you need to make sure you stay on top of the situation to avoid costly penalties. Here’s what you should do. The IRS recommends that if you can’t pay the amount you owe in

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