Posted by Administrator Account on 10/11/2011 8:59 AM

The Oct. 17 deadline is approaching for those who requested an extension to file their 2010 U.S. Individual Income tax return. For those who cannot pay their taxes in full, the IRS recommends filing the tax return and contacting the IRS.

The IRS states, "Even if a taxpayer doesn't have enough money to pay, returns should be filed to avoid further penalties for failure to file. The IRS will assist in finding a solution to the problem."

If a taxpayer cannot pay in full, the IRS offers resolutions that include: 

  • Installment agreements (when the situation warrants) that allows the taxpayer to pay the tax debt over time.
  • The IRS will also make considerations as to whether an offer in compromise is an appropriate solution to the matter.

 For IRS resolution matters, contact your tax advisor at Dalby, Wendland.

Dalby, Wendland & Co., P.C. is a Certified Public Accounting and Consulting firm in Western Colorado that provides professional accounting, audit, tax and business services to individuals and businesses of all sizes.  Dalby, Wendland & Co., P.C. has established offices in Grand Junction, Glenwood Springs, Montrose, Aspen, Rifle, and Telluride that allows us the flexibility to serve thousands of clients all over Western Colorado.  As Western Colorado's oldest and largest accounting firm headquartered in Colorado, we have had the opportunity to build strong relationships with our people, our clients, and our communities.

The information provided on this website is for informational purposes and does not constitute an accountant-client relationship. We assume no liability or responsibility for any errors or omissions in the content of this website. Any U.S. federal tax advice contained in this website is not intended to be used for the purpose of avoiding penalties under U.S. federal tax law. We recommend you call our firm before implementing any tax techniques discussed in this letter, or if further accounting, tax, or financial advice from a professional accounting firm is required.

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