IRS and Tax Payment Concerns

IRS and Tax Payment Concerns

Assessment

Flashcard

Business

6th Grade

Easy

Created by

Brantley Rziemkowski

Used 1+ times

FREE Resource

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5 questions

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1.

FLASHCARD QUESTION

Front

Is the IRS after me?

Back

Yes the IRS is after me for not paying my taxes

2.

FLASHCARD QUESTION

Front

What happens if I don't pay my taxes?

Back

If you don't pay your taxes, the IRS may impose penalties, interest, and take legal action to collect the owed amount.

3.

FLASHCARD QUESTION

Front

How can I avoid IRS penalties?

Back

To avoid IRS penalties, ensure timely filing and payment of taxes, and consider setting up a payment plan if you can't pay in full.

4.

FLASHCARD QUESTION

Front

Can I get an extension on filing my taxes?

Back

Yes, you can request an extension to file your taxes, which typically gives you until October 15th to file. However, this does not extend the time to pay any taxes owed.

5.

FLASHCARD QUESTION

Front

What should I do if I made a mistake on my tax return?

Back

If you made a mistake on your tax return, you should file an amended return using Form 1040-X to correct the error.