With April 15th just days away many Long Island residents find themselves in a frustrating dilemma over which taxes they need to pay first.
Long Island property tax bills are arriving higher and more crippling than ever this year, while many are paralyzed with the fear that they don’t have the cash to pay the IRS either, especially with bigger tax hits to their paycheck and less coming in every week as it is.
No one wants the IRS on their back, and it can be daunting if you have already fallen behind on filing federal income tax returns, but what are the consequences for not paying your Nassau and Suffolk County property taxes?
The great news for those fretting filing their federal tax returns is that they can file an extension ahead of the 15th and get more months to organize, strategize and save.
Even if you are years behind with the IRS you can apply for a payment plan or enter negotiations to settle for less than you actually owe, and they will typically leave you alone providing you are making an effort.
However, when it comes to your county property taxes on your Long Island home on the other hand you might not be so lucky, and the penalties of delaying sending that check can be far worse.
For a start, all of your neighbors will be able to quickly find out if you are slacking on them. Then you face interest and penalties for paying late, and you could lose your home a lot sooner than the IRS would catch up with you.
If you’re having trouble even paying your property taxes this year look to an adjuster to file a grievance on your behalf and reduce the amount you owe…