Tax debt can feel like a daunting financial obstacle, but understanding what it is and the options available can make all the difference. Whether you’ve missed a filing deadline, made an error on your return, or faced unexpected adjustments from the IRS, tax...
The late filing penalty for taxes can be costly, as the deadline for paying any individual income tax you owe is April 15. Missing this deadline may result in a 5% penalty per month on unpaid taxes, plus interest. Additionally, if you file late but don’t owe taxes,...
Missing the deadline for late tax filing, whether for submitting your federal tax return or paying the taxes you owe, can result in penalties from the IRS. These penalties aren’t just a slap on the wrist—they can quickly add up to hundreds, or even thousands, of...
Tax mistakes can lead to hefty fines and penalties, but avoiding them is easier when you know what to watch for. Below are some of the most frequent small business tax mistakes and practical steps to steer clear of them. Mistakes happen, but they don’t have to cost...
If you own a small business, you’ll most likely need to file taxes. But where should you begin? Which forms should you gather and submit? How do you determine the right amount to pay in taxes? And what happens if you skip filing taxes altogether? Here’s a hint: it can...
It’s the height of summer, and many U.S. workers are gearing up for their July 4 vacations. While Independence Day is the perfect reason for a summer barbecue, it’s also a timely reminder to think about taxes — especially if you take a moment away from the pool to... 
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