If you have missed the IRS tax filing deadline without filing an extension, you need to file as soon as possible before the IRS files for you. If you fail to file, the IRS can file a substitute return for you. Unlike a Rancho Cucamonga tax return preparer, the IRS that won’t include credits or deductions that could help reduce the amount you owe or maximize your return.
Should I file for a tax extension
If you need more time to file your taxes you can file for an extension BEFORE the deadline, an extension is good for an additional 6 months and eliminates the failure-to-file penalty. An extension does not, however, give you an extension of time to pay taxes owed and you will be asked to estimate how much you're going to owe the IRS. The unpaid balance with accrue interest and penalties, however these penalties are far less than the ones for not filing at all.
Late filing fees if you owe taxes.
If you do not file taxes by the deadline, you may face a failure-to-file penalty. If you do not pay taxes owed by the deadline you may have to pay a failure-to-pay penalty which is generally less severe than a failure-to-file penalty as the IRS will work with if you are struggling to pay taxes owed on time. The failure-to-file penalty, however is usually 5 percent of the unpaid taxes for each month or part of a month that a tax return is late. That penalty starts accruing the day after the tax filing due date and will not exceed 25 percent of your unpaid taxes.
You will not have to pay a late-filing or late-payment penalty if you can show reasonable cause for not filing or paying on time but it is not guaranteed that the IRS will grant your request.
Late Fees if you are Getting a Refund
If you are owed a refund, there is no penalty for filing your tax return late, even without an extension as the penalty for filing late is a percentage of the tax owed. Just remember that you don’t get your tax return until you file.
Get back in good standing with the IRS
Paramount Tax & Accounting - Rancho Cucamonga can help you file late tax returns in Rancho Cucamonga and navigate your options if you are faced with penalties. Contact our accountingbookkeeping firm in Rancho Cucamonga for a free consultation to help file taxes late in Rancho Cucamonga.
Timing, accuracy, and necessity are key factors when it comes to filing a late tax return. Paramount Tax & Accounting - Rancho Cucamonga can assist you from start to finish.
Love Chris and his entire Team ! They are awesome !!
— Angelica Shimmin,
Posted May 15th 2023 on google
Chris Collins is hands down the best CPA around. Was referred by a family friend over 15 yrs ago and have been going to him ever since for taxes, mortgage, investments and any money/ life advice. Chris has become like family and his entire team at Fusion Financial is amazing .
My wife and I have been with Chris for close to 20 years. He is patient, personable, professional. Will take the time to answer questions. He is now preparing the tax returns for our kids too!
Love coming here and working with the team, especially Chris. He has been working with my family for 15 years and would never go anywhere else. Super helpful and knowledgeable. Always friendly. Will continue coming back.
Chris is the best tax accountant you can go to. Very knowledgeable about everything and answers all questions you have.
— Matthew Velasquez,
Posted May 1st 2023 on google
Chris and team are excellent, thorough, and very professional. Highly recommend for all tax services.
— Andrew Saltsgaver,
Posted May 1st 2023 on google
I had my tax done today with Chris and I was very pleased with the service. He was very professional and very patient. For sure, they offer high quality service.
— Ladan Modallel,
Posted April 29th 2023 on google
Chris and his team is amazing, it is a great comfort knowing that I have a team of people protecting me and my family!
— Mike Howard,
Posted February 10th 2023 on google
They were a great help with my taxes and also gave me some advice Ways to help me with my future planning.
Thank you David
— David Pusczewicz,
Posted April 28th 2023 on google
We love them… still going back after 17 years. They’re honest, dedicated and helpful in anything taxes. Everything else, they can help with that too. Keep up the amazing work. Thank you so much Chris and Mike.
This is my second year working with Chris and the team at paramount to file my taxes. The whole team is great! They treat you like family and are truly there to help. Ill be a customer for life from now on.
Many people do not know how a professional tax firm differs from a tax preparer. The main difference when working with a professional tax and accountingbookkeeping firm, such as Paramount Tax & Accounting - Rancho Cucamonga, is that our firm utilizes the services of CPAs, EAs, and Attorneys who are distinguished from other finance professionals by stringent qualification and licensing requirements.
Paramount has worked hard to create relationships to deliver the value that our clients expect. In fact, our goal is to be the No. 1 Filing Late Taxes firm in Rancho Cucamonga. So when you ask yourself, "Where can I find accountingbookkeeping services near me?"... think no further than Paramount Tax & Accounting - Rancho Cucamonga!
Whether you are filing personal taxes or you own a business, if you are not already using a professional tax and accountingbookkeeping firm, you have most likely already missed out on major tax benefits, deductions and credits. This is because a professional tax and accountingbookkeeping firm utilizes licensed professionals such as CPAs, EAs and Attorneys, who can not only advise individuals on personal financial matters but who are qualified to advise businesses, financial institutions, nonprofit organizations and government agencies on a wide range of financial topics.
Our strict standards ensure that we understand the complicated tax laws and how to implement strategies that return the most benefits to individuals and businesses. Give Paramount Tax & Accounting - Rancho Cucamonga a call or visit our
tax and accountingbookkeeping firm in Rancho Cucamonga
for a free consultation.
Through dedication to the three underlying principles of professionalism, responsivenessandquality, Paramount is committed to providing outstanding service to our clients.
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