What Should I Do If I Missed the Extended Tax Deadline?

What Should I Do If I Missed the Extended Tax Deadline?

What Should I Do If I Missed the Extended Tax Deadline? If you waited until this fall to deal with your taxes and missed the October 15 extended filing deadline, don’t wait any longer to send in a return. Unless you are due a refund, the IRS will assess fines for not...
Trust Fund Recovery Penalties: What are they?

Trust Fund Recovery Penalties: What are they?

Trust Fund Recovery Penalties: What are they? When a business is struggling with its cash flow, an owner, director, or even a payroll employee may be tempted to briefly dip into the trust fund taxes already collected and withheld from staff. But the IRS has a strong...
IRS Unveils the “Dirty Dozen” Tax Scams of 2020

IRS Unveils the “Dirty Dozen” Tax Scams of 2020

The IRS has revealed its annual “Dirty Dozen” list of tax scams, and as might be expected the 2020 top 12 include coronavirus-related schemes. These range from stealing economic impact payments (EIPs) to enticing taxpayers to donate to fake coronavirus related...