The Internal Revenue Service recently announced that interest rates will remain the same for the calendar quarter of 2013 that begins January 1, 2013. Current rates, which will remain unchanged, are:
- three (3) percent for overpayments [two (2) percent in the case of a corporation];
- three (3) percent for underpayments;
- five (5) percent for large corporate underpayments; and
- one-half (0.5) percent for the portion of a corporate overpayment exceeding $10,000.
If you are a taxpayer with an unpaid tax liability, or if you have not stayed current in your personal or business tax filings, remember that penalties and interest continue to accrue and can add up quickly! If you owe tax and don’t file on time, the total late-filing penalty is usually five percent of the tax owed for each month, or part of a month that your return is late, up to five months. If your return is over 60 days late, the minimum penalty for late filing is the smaller of $135 or 100 percent of the tax owed.
Have you received a notice about a tax liability or missed filing? Whether you owe $10,000 or $10 million, we can help. If you have a tax lien, been garnished or bank levied, we can help. If you haven’t filed tax returns and don’t know what you owe, we can help.
Some of the most common services we provide every day include: Installment Agreements, Offer in Compromise, Currently Not Collectible Status and much more. There are many different options for tax resolution; contact us today at 888-902-0778 for a free consultation. The licensed tax resolution experts at Larson Financial make sure you don’t pay a penny more than you legally owe – and on a schedule that works for you. We are A+ rated with the BBB and operate in all 50 states. www.larson-financial.com