On April 9, 2020, the IRS issued Notice 2020-23 which has added to the due date postponement of filing and payment obligations to include those due on or after April 1, 2020 and before July 15, 2020. This notice expands…
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Sometimes, life just gets in the way. You feel too busy or have experienced a life-changing event such as a divorce, illness, job loss, or death in your family that sidetracked you from timely filing your tax return. Maybe you’re…
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No one wants to find out that they owe money to the IRS when Tax Day arrives. However, owing money to the IRS is even worse when the amount includes additional penalties that you could have avoided through more prudent…
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If you have been procrastinating about filing your 2021 tax return or have unfiled tax returns for prior years, you need to consider the consequences, such as penalties, interest, and aggressive IRS collection actions. (more…)
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Many tax penalties are substantial and can significantly increase the amount you owe the IRS. Penalties can be assessed for various reasons, with some resulting from a taxpayer’s carelessness, overstatement of deductions, failing to report income, or procrastination. (more…)
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If you have an interest in or have signature authority over a foreign bank account or other financial accounts you may be required to file a Report of Foreign Bank and Financial Accounts (“FBAR”). (more…)
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