In this one-minute moment, Dr. Friday advises against delaying tax filing even if you owe money, emphasizing that filing on time prevents additional penalties and interest; payment plans can be set up later.
Transcript:
G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment.
We are winding down on tax season. So, if you are deciding maybe you don’t want to file your tax because you just found out that maybe you owe $20,000, or $5,000, or $2,000—it doesn’t make a difference depending on your own budget, but it’s a lot of money. And you’re thinking, ‘Well, if I don’t file the taxes, the IRS won’t know; therefore, I’m going to be able to stretch this out a little longer.’
And I can’t say that’s not true. But the fact is: file your taxes on time, then figure out how you’re going to make a payment plan. Pushing it down the line is only going to add more penalties, more interest, possibly failure-to-file penalties.
If you need help, 615-367-0819.
You can catch the Dr. Friday Call-In Show live every Saturday afternoon from 2 to 3 p.m. right here on 99.7 WTN.