General Tax Questions
Some people consider taxes the bane of their existence, as tax time can be one of the most stressful periods of the year. Given the complexity of filing taxes, there is no doubt as to the reasons that it can be a frustrating time. Although there is no way to avoid taxes, there are ways to make the process run smoother and more efficiently.
Since tax time has deadlines, many people are concerned about whether their information was received by the IRS, especially if they filed their taxes through the regular mail. If you are concerned whether the IRS received your payment---usually due to a check not clearing---the IRS recommended you call the IRS hotline to find out whether your check cleared. Assuming the payment was not credited, you can void the check and pay through another method such as debit, credit or online payment.
Some people fall behind on their tax payments. People who feel they will be able to pay off their debt over a specific period of time are encouraged to discuss potential payment plans with the IRS. There are specific types of agreements---such as "Installment Agreements"---where taxpayers are allowed to pay off debt over a specific time-period. This allows taxpayers to avoid late-fees and penalties; however, it still incurs a monthly interest rate due to the added time that is allowed.
As tax forms can get complicated, there can be mistakes on tax forms. Often mistakes are caught on the tax return during the processing of the return. When this occurs, the IRS usually sends the return directly back to the owner. A missing form usually results in the IRS contacting the tax-payer and asking him to send the information. Not reporting some income, or not claiming credit requires the tax-payer to re-file with a 1040X form.
Filing an amended return requires the tax-payer to include W-2 forms that were not originally included. 1040X forms must be received by the IRS within 3 years of the date of filing of the original return.
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