Late Filing & Late Payment Penalties: What you need to know

All of us are aware that April 15th, was the tax deadline for individuals that did not file an extension. If you are due a refund, there is no penalty for filing your tax return late. However, if you owe tax, and you did not file and pay on time, you will most likely...

Paying a Tax Bill – Five Tips to Avoid Extra Charges

Tax bills from the IRS should not be ignored. A delay in payment can lead to more interest and penalties that need to be paid. Below are five tips from the IRS to avoid extra charges: 1. Pay electronically – Paying your bill(s) with the IRS electronic payment...