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Do You Owe Taxes to the IRS?

If you owe taxes to the IRS, your payment must be received by the due date, even if you apply for more time to file.  Failure to pay on-time will result in penalties and interest. This year, the tax deadline to file personal tax returns falls on April 18, 2016 and the extended deadline is October 17, 2016.  Estimated tax payments (Form 1040ES) are due:

  • April 18, 2016
  • June 15, 2016
  • September 15, 2016
  • January 17, 2017

tax payments

Thankfully, the IRS offers easy electronic payment options so you never miss a deadline. Paying electronically is convenient and secure.  The IRS uses the latest encryption technology and does not store your banking information.  You can make electronic payments online, by phone or from a mobile device.  When you use any of the IRS ePay options, it puts you in control of paying your tax bill and gives you peace of mind.  You determine the payment date, plus you’ll receive an immediate confirmation from the IRS.  It’s much quicker than mailing a check or money order.  For more information, visit IRS.gov/Payments.

Kaizen CPAs works with auto repair shops across the country. We know running a successful shop takes more than keeping the bays full. We help shop owners understand their numbers, stay ahead of taxes, and build stronger, more profitable businesses. Auto repair is at the heart of what we do, but we bring the same practical, hands-on approach to businesses in other industries, too.

YPD HCM is part of the Kaizen CPAs family. YPD HCM helps small businesses manage payroll, HR, and compliance with the right tools and personal, human support—from payroll and tax filings to onboarding, employee management, and more. It’s practical help for the people side of your business, from a team that’s there when you need them.

The information in this article is provided for general educational purposes and reflects conditions as of the publication date. It is not legal, tax, accounting, payroll, HR, or compliance advice. Every business is different, so talk with a qualified professional about your specific situation.

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