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Form 872 Virginia Fairfax: What You Should Know
How does the signature on such a document qualify him to avoid paying a tax penalty? Question & Answer Question — ‹1› I just received a letter from IRS warning that if I do not file my income taxes by the April 30th deadline, I will be charged a penalty of 35%/0.5% of the deficiency plus 3%/0.3% for each month of delay. How will a failure to file my taxes by the deadline affect my tax position? Answer — ‹7› Although an FBI is valid under Code section 7021, it is not required by Code section 7313, §7702. To avoid being charged a penalty, you should contact the Examination Team at the Fairfax County Department of Tax. The purpose of this notice is 2-fold. First, it makes an important policy announcement, stating that a penalty cannot be enforced until all delinquent returns and interest are fully satisfied. The purpose of this notice is to provide additional guidance to taxpayers with a filing deadline approaching. Second, it gives taxpayers a choice: whether to file by April 30th and pay a penalty when the tax obligations are finally satisfied or postpone payment until just before the due date by paying all the taxes that are still due. When you have filed your returns, you should be aware that an FBI is an option if your failure to file is due to a timely filed federal return or other federal tax deficiency, or for a number of years, where you have a late filing penalty of 2,500. (See Treas. Reg. §§§1.7002-4(c), 1.7018-3(c)(3)-(f).) A copy of the Notice of Filing Failure For more information, you may contact the Examination Team at the Fairfax County Department of Tax: Tax Administration 12000 Government Center Parkway, Suite 223 Fairfax, VA 22035. E-mail: IRS.Maintenancefairfaxva.gov Consent to Extend the Time to Assess Tax — Fairfax County Consumers may request approval to extend the assessment period for their current and anticipated tax liability in order to obtain a longer tax assessment time period for future tax payments. If it appears in good faith that an extension will accomplish the purposes, the Tax Administrator's Office will grant the request. An applicant may not request an extension of the assessment period based upon an examination of the taxpayer's financial resources.
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