Perspective: Here’s what not to do if you can’t pay your tax bill
By Michelle Singletary Michelle Singletary Personal finance columnist Email Bio Follow Columnist April 12, 2018 If you owe taxes, you might not be in a rush to file by Tuesday, April 17.
In recent years, about 1 in 5 taxpayers file a return showing a balance due with the average amount due at time of filing running around $3,000, Smith said.If you owe and you don’t file and pay — on time — two penalties may apply. What the companies don’t tell you is that getting your debt reduced is dependent on your being approved for the IRS’s Offer in Compromise program, or OIC, in which the agency agrees to accept less than your full tax payment under certain circumstances.
In 2015, the black homeownership rate was virtually unchanged since 1968. The homeownership rate among white Americans is about 64 percent.So last week I asked: Has homeownership been the saving grace for your family’s legacy?
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