Tax day is almost here. If you’re worried about paying on time, you might qualify for a new IRS program that waives the failure-to-pay penalty.
“We are wanting to help taxpayers who are struggling due to financial difficulties,” said IRS spokesman David Stell. “Especially those who have been unemployed.”
A new extension of the IRS’s Fresh Start initiative offers a payment grace period of up to six months to anyone who has been unemployed for at least 30 consecutive days in 2011 through April 17 of this year.
Anyone who is self employed who has lost 25% or more of his or her income in 2011 due to the economy also qualifies.
Stell urges anyone with concerns about paying taxes this year to contact the IRS.
“I realize that when people hear the three letters ‘IRS,’ the images that are conjured up are usually not friendly, happy images,” Stell said. “But I’m here to tell you that the IRS is here to help people too, in circumstances where there are inability to pay or assistance within a tax account that can’t seem to get resolved. We’re here to help, and we will do that.”
Click here for more information about penalty assistance, as well as other extensions of the Fresh Start initiative.