due date

[oceanlovin'ea]

Client just asked this question. He got his bill for the balance of his 2014 taxes. It's due by the 29th. Does it have to be there by the 29th or does IRS honor the post mark?

I wasn't sure because with the tax return it has to be post marked by April 15th not in IRS hands by April 15th. So does the same apply to payments?

Thanks

Linda, EA

[TAXNJ]

Electronic

Client just asked this question. He got his bill for the balance of his 2014 taxes. It's due by the 29th. Does it have to be there by the 29th or does IRS honor the post mark?

I wasn't sure because with the tax return it has to be post marked by April 15th not in IRS hands by April 15th. So does the same apply to payments?

Thanks

Linda, EA

Have you considered sending electronically to ensure it gets there by the 29th? One less item to worry about.

[Roland Slugg]

A due date assigned by the IRS to pay late taxes is not the same as a due date contained in the Code. It has been my experience over many years that the IRS allows a few days grace period to pay taxes, penalties and interest requested in any of its various initial letters. If the full amount is paid and mailed on or before the requested date ... the 29th in this case ... I don't think your client will hear from them again.

Nevertheless, if this were my client, I would recommend that he mail the payment at least one or two business days before the deadline proposed by the IRS. The suggestion of paying electronically, as suggested above, is also viable, unless the taxpayer badly needs to gamble on a couple of extra days float.

[ATSMAN]

I tell my clients to send it certified before the due date in the notice. They will need that post office receipt to prove it was not mailed late should a follow up notice arrive with added interest.

Twice we had to send photocopy of the receipt to abate the added interest.

[TaxGuyBill]

It's due by the 29th.

Actually, it was due April 15th (assuming this is an Individual return).

The penalties and interest started April 16th, and continue until the IRS receives payment. It doesn't really matter what the due date of the bill says, except to avoid another bill coming in the mail.


Edit: Well, I guess they would tack on a little bit more of interest if it was a few days late, but it would be very minor. I had thought it was based on the date received, but I haven't been able to find anything that supports that.