For Immediate Release
October 7, 2013
|CONTACT: Martha O’Gorman
Chief Marketing Officer
(800) 790-3863 ext. 8022
Liberty Tax Service Offers 25% Discount for Furloughed Workers
Virginia Beach, VA (October 7, 2013) – Liberty
Tax Service is offering a 25% discount off of tax preparation fees to those
furloughed federal workers who have yet to file their federal tax return. As
the government shut down continues, the Internal Revenue Service (IRS)
stated on their website, “You should continue to file and pay
taxes as normal.” Liberty Tax Service is reminding taxpayers of the upcoming
October 15th filing deadline.
don’t want anyone burdened with penalties or late fees because the federal
government has shut many of its doors and taxpayers believe this is a
reprieve,” states Martha O’Gorman, Chief Marketing Officer for Liberty Tax
IRS also announced that they “will be unable to issue refunds during
this time.” Of
the 12+ million taxpayers who requested an automatic six-month extension this
year, it appears those anticipating a refund will have to wait until the IRS
operations are back to normal.
common misconception for filing an extension is that taxpayers can delay
payment. This is not the case – if an individual owes taxes the payment
deadline was April 15. Late payment penalties and
interest are assessed and continue to accrue when you do not
send the IRS your tax obligation by the tax deadline. The late payment penalty
is usually 0.5% of your unpaid taxes, with the maximum at 25%.
The IRS will also assess a late filing
penalty of 5% of the unpaid taxes not paid by the due date for each month your
taxes are late, with a maximum also at 25%. If your payment is more than 60
days past due, the minimum late filing penalty is $135 or the balance of the
taxes you owe, whichever is less. More importantly, willful failure or
fraudulent failure to pay taxes or file a return have higher penalties
(including possible jail time).
Taxpayers have a number of options available to pay their tax
liability. Those that can pay their tax liability in full can do so by debit or
credit card, electronic funds transfer or check or money order. Alternatively,
taxpayers may ask the IRS for permission to make monthly installment payments
by attaching Form 9465, Installment Agreement Request to their tax return.
Another option for payments is to have the funds directly debited from a bank
account. A Liberty Tax Service consultant will assist you with these options.
Tax Service reiterates the importance of double checking your tax return and not
rushing through it, possibly missing credits and deductions. There is a little
good news for late filers out there, if you get money back, you won’t be
charged any penalties or fees.
many people still have time to file. The IRS has allowed more time for some
people, including members of the military and others
serving in Iraq, Afghanistan or other combat zones (to identify these zones
Also people living in parts of Colorado’s designated disaster areas have until
December 2, 2013 to file and pay.
This offer is valid at participating Liberty Tax Service locations. To find a local Liberty Tax Service office, call
1-866-871-1040 or visit www.LibertyTax.com for more
About JTH Holding, Inc.
Founded in 1997 by CEO John T. Hewitt, JTH
Holding (NASDAQ: TAX), Inc. is the parent company of Liberty Tax Service. As
the fastest-growing tax preparation franchise, Liberty Tax Service has prepared
almost 16 million individual income tax returns. Liberty Tax also offers
an online tax service, eSmart Tax, which enables customers to do their own
taxes wherever there’s a computer. eSmart Tax is backed by the tax
professionals at Liberty Tax and its nationwide network of over 30,000 tax
preparers, ready to offer their assistance at any time. For a more in-depth
look at Liberty Tax, visit www.libertytax.com.