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Here is a summary of information about how penalties and interest may pile up for filing taxes late and for not paying all you owe on time.
Category: Business Tax Preparation
If You Missed the Tax Deadline
April 16, 2015
If you were not able to file a tax return or an extension by the April 15th deadline, but should have, you need to take action now to avoid compiling penalties and interest. Here are some tips for taxpayers who missed the tax filing deadline:
Ways to Pay Taxes
April 15, 2015
There are a number of ways to pay taxes you may owe. The important thing is to file on time and pay as much as you can of what is due as soon as you can.
When It’s Right to Itemize Deductions
April 11, 2015
Itemizing deductions on a tax return may help decrease the amount of tax you owe depending upon a taxpayer’s income, age, filing status and more.
File Taxes on Time Even if You Can’t Pay
April 3, 2015
File by the April 15th deadline even if you can’t pay the taxes that are owed. This helps you avoid late filing penalties.
Many married couples don’t realize that each taxpayer is equally responsible under penalties of perjury for filing correct information and paying the tax. This is true even after a divorce.
Out-of-Pocket Expense Deductions
March 30, 2015
Taxpayers who are salaried company employees frequently overlook tax deductions for their out-of-pocket work-related expenses.
Tax Tips on Tips
March 28, 2015
Divorce, Death, Benefits and Taxes
March 18, 2015
The emotional stress of divorce can have even more harmful effects if personal finances and assets are not updated to reflect your changed situation. Make certain ALL your accounts are updated with new beneficiaries-a will is not always enough.
Obamacare Court Battle
March 16, 2015
The nation’s highest court is requested to determine whether federal subsidies to help pay for health care coverage can be legally issued in the 36 states that did not form exchanges offering health insurance.
