, Answering FAQ'sTurboTax Employee
If you didn't pay your taxes by the March 15 (corporations) or April 15 filing deadline, the IRS will send you a reminder notice with the tax due amount, plus possible penalties and interest.
It's important that you pay off the overdue tax, or at least a portion of it, as soon as possible to minimize additional penalties and interest. See What if I can't pay my tax bill? for more information.
Late-Payment Penalty Relief (Tax Year 2012 Returns Only)
If your 2012 personal or business return included one or more of the following forms, the IRS will waive the late-payment penalty of 0.5% per month on the overdue balance, as long as you filed your return or extension by the March or April due date and your outstanding tax bill was paid by October 15, 2013. (Interest charges will still accumulate on the outstanding balance until it is paid in full.)
- Form 3800, General Business Credit
- Form 4136, Credit for Federal Tax Paid on Fuels
- Form 4562, Depreciation and Amortization
- Form 5695, Residential Energy Credits
- Form 5884, Work Opportunity Credit
- Form 8396, Mortgage Interest Credit
- Form 8582, Passive Activity Loss Limitations
- Form 8834, Qualified Plug-in Electric and Electric Vehicle Credit
- Form 8839, Qualified Adoption Expenses
- Form 8859, District of Columbia First-Time Homebuyer Credit
- Form 8863, Education Credits
- Form 8903, Domestic Production Activities Deduction
- Form 8910, Alternative Motor Vehicle Credit
- Form 8911, Alternative Fuel Vehicle Refueling Property Credit
- Form 8936, Qualified Plug-in Electric Drive Motor Vehicle Credit
If this situation applies to you, respond to your notice with a letter that indicates you are covered by the relief mentioned in IRS Notice 2013-24 and also include which form(s) in the list above are in your return.
- What if I can't pay my taxes?
- What if I missed the April 15 filing deadline?
- Important Dates and Deadlines for 2013 Federal Tax Returns