Publication 1 (KO) (Rev. 09-2017). Your Rights as a Taxpayer (Korean Version): Fill out & sign online

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Why is the IRS charging me?

The IRS charges underpayment interest when you dont pay your tax, penalties, additions to tax or interest by the due date. The underpayment interest applies even if you file an extension. If you pay more tax than you owe, we pay interest on the overpayment amount.

What are the two types of taxpayers?

Taxpayers are primarily classified into two types that are individuals and corporations: Individuals These taxpayers are people who are liable to pay tax for their income. Corporations These taxpayers are liable to pay tax on the profits earned during the previous year from their business activities.

What are problems faced by taxpayers?

Share on social Tax Problem# of taxpayers annuallyUnpaid taxes I owe but I cannot payAs of 2019, 20.1 million owe and cannot payNon-filers I have not filed my required tax return10.6 million (individual only) 50.5 million business non-filersUnderreport income I did not report all of my W-2s/1099s2.0 million (2019)3 more rows Jul 9, 2021

Why is the IRS coming after me?

The IRS sends notices and letters for the following reasons: You have a balance due. You are due a larger or smaller refund. We have a question about your tax return.

What is your role as a taxpayer?

Theme 1: Your Role as a TaxpayerLesson 3: The Taxpayers Responsibilities. The U.S. income tax system is based on the idea of voluntary compliance; it is the taxpayers responsibility to report all income. Tax evasion is illegal. Some people try to evade paying taxes by failing to report all or some of their income.

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