Tax Form Deadlines

• Unless taxpayers must pay quarterly estimated tax payments, taxes are due by April 15 of the following tax year. For 2010's tax liabilities, tax returns are due on April 18, 2011. Taxpayers requesting an automatic extension of time should file the extension request by this tax deadline to obtain an extension until Oct. 15, 2011 to file their returns.
  
  

Taxpayer's Filing Responsibilities

• Most individuals must file annual tax returns. The IRS provides exceptions for individuals who earn less than $950 annually or are dependents on their parents' tax returns. The IRS provides a warning to individuals who mistakenly believe they are not responsible for filing a tax return. In these situations, the government can institute civil or criminal penalties for failure to file. Taxpayers use IRS 1040, 1040EZ or 104A to file their returns. In addition, some taxpayers are required additional tax forms such as Schedule C and W-9 Forms. Depending upon the taxpayer's income and tax liabilities, there may be several IRS forms in addition to these that taxpayer must provide to substantiate and report earnings or losses for the tax year or to claim credits and deductions.
  
  

Filing Amendments and Extensions

• Taxpayers may file Form 4868 for an Automatic Extension of Time to File U.S. Individual Tax Return. The IRS allows taxpayers to file this form electronically or through mailing. Taxpayers may need to remit portions of taxes that are due or estimated payments with the form to qualify. Business taxpayers use a similar form to request extensions to pay business income taxes. Typically, taxpayers receive extensions to file taxes in six-month increments. Taxpayers may file amended tax returns by filing a 1040X Form, Amended U.S. Individual Income Tax Return. Taxpayers must amend by deadline dates, including the Oct. 15 date for the automatic extension date. Taxpayers attach their tax return for the year they're amending with adjusted amounts and additional tax liability payments, if any.
  
  

Taxpayer's Inability to Pay Taxes

• The IRS allows taxpayers an opportunity to request an Offer in Compromise by using a Form 656-A, Income Certification for Offer in Compromise. Taxpayers may request the Offer for economic hardship reasons or inability to pay due to special circumstances. The application fee is $150. Taxpayers may review Tax Topic 204 for additional requirements and information. Taxpayers are not eligible for the Offer if they're able to pay through an IRS installment agreement. Taxpayers may review Tax Topic 202 for additional installment agreement information. Taxpayers pay an installment agreement administrative fee for the IRS to implement the installment agreement.
  
  

Considerations

• Since taxes may frequently change, you should not use this information as a substitute for legal or tax advice. Seek advice through a certified accountant or tax attorney licensed to practice law in your jurisdiction.