Some taxpayers may pay taxes later

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(KTSF by Hellas Leung)

If you owe taxes and have a financial hardship, you may qualify to pay later or by installment.

Both the IRS and the Franchise Tax Board have such plans to help taxpayers.

“Basically, people that are unemployed and certain self-employed taxpayers whose income has fallen can get a six-month extension of penalty waiver,” said Jesse Weller, the spokesperson for IRS.

“Essentially, if you generally have a good history of compliance, have less than $25,000 and can repay it within five years, we are not going to ask for a whole lot of information from you. You are not going to have to substantiate your financial situation, ” said Denise Azimi, the Public Affairs Officer for Franchise Tax Board.

People can check the details on the website of the Franchise Tax Board (FTB) or Internal Revenue Service(IRS).

(Copyright 2012 KTSF. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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