When a concerned friend told him that the IRS had sent him a $172 million tax bill, Marcos Esparza Bofill’s first reaction was, “Who’s the IRS?”.
Bofill was a Spanish immigrant who was living in New York doing day trading. But, apparently he was not very good at it as he was barely making ends meet. Unable to sustain an “American” lifestyle, Bofill has since moved back to Spain to live with his parents.
When his friend (who had requested anonymity) told him about the tax bill notice that was sent to his old walkup apartment he thought it was a joke until his friend told him to google himself up where he was greeted by blogs and news reports about the enormous back taxes he owes.
What happened was Marcos Esparza Bofill didn’t keep very good track of his trading activities and did not bother to file anything with the IRS, especially when he was losing money. When the IRS saw over $550 million in stock gains, they apparently did not consider the losses that were likely close to that amount, if not more.
Today, April 15, 2010 is the deadline for filing tax returns and as responsible American citizens, we need to pay our 2010 tax returns to Internal Revenue Service or IRS.
With millions of Americans who are not able to file their 2010 tax returns yet, search for how to file for 2010 taxes online for free increases to allow them six months more time extension to file their 2010 tax returns.
However, IRS said that an extension of time to file is not synonymous to an extension of time to pay. You need to estimate your tax liability and pay any balance due when you request the extension. Several payment options are available, including electronic funds withdrawal, credit card and check.
If you want to download and file your 2010 taxes online for free, you need to download the Tax Extension Form 2010 directly from IRS website. You can either choose between using a software or without software in submitting your free tax extension online. This is Tax Extension Form 2009 is called “IRS Form 4868”.
As mentioned above, if you want a tax software to file an extension for 2010 taxes online called “Free File”, then you can use the free tax extension form 2010 here. Otherwise, if not, then you can use the “Free File Fillable Form” here.
It’s actually the deadline… April 15 marks the last day of filing IRS Tax forms. With this, a lot of people and companies still are late and having trouble finalizing their Income Tax returns. But don’t worry because you still can get an extension form.
There are many consequences to filing late and they are Penalty charges and Interest rates. As much as possible you would want to avoid this. But still, you may get an IRS Extension Form 2009 download form the official website of the Internal Revenue System. There are also video clips on how to file an IRS Extension online.
The Internal Revenue Service or IRS recently announced an tax refund to some of the US taxpayers. As such, a lot of Americans are now asking where’s my IRS tax refund and how do I claim them?
Apparently, according to IRS, the said tax refund is for those people who didn’t file their income tax return for fiscal year 2006 with a total of about $1.3 billion to be given to almost 1.4 million tax payers.
In case you are included in those people, the IRS said that the deadline for claiming a tax refund closes on April 15, 2010. According to them, the average tax refund for those who are qualified is roughly $604.
In addition, to claim your tax refund from IRS, you need to file for your income tax return and must be “properly addressed, mailed and postmarked by that date.” Don’t worry about the penalty for filing late since if you qualified for the refund, the penalty charge has already been waived by IRS.
Furthermore, be sure that you are updated in filing your income tax return for previous years like 2007 and 2008. Failure in updating will nullify you in claiming your tax refund for 2006.
Download the necessary forms now at IRS and ensure that you’re always up to date in filing your tax returns.
Note: Beware of emails from supposedly “IRS” since these are all scams. IRS said that they are not asking for any personal information from tax payers in the form of emails.
Today, Post Offices around the United States are going open late like until midnight just to give way to IRS Tax filing. People have this bad habit of doing things the last minute, therefore, congesting our post offices. Meanwhile, if you think you will be late in filing, you can check out the IRS web site and download the File Extension Online form 2009.
If you want to know on what time your post office closes, you may call your local mailing office post or check out their website online. They are extending their services usually up to midnight and hire extra man power to accommodate the many requests for the post to be open right now.