Category Archives: Unfiled Taxes
Reducing Penalties and Interest on Unpaid Taxes
Those who missed the April deadline for filing their 2023 taxes still have options for paying off those debts. There are also a number of penalty and interest relief programs for which certain taxpayers can qualify. Interest Rates and Penalties for Unpaid Taxes Those who owe taxes to the IRS and who were unable… Read More »
How to Calculate Tax Withholding Correctly
Federal income taxes are handled on a pay-as-you-go basis, which means that taxpayers must pay taxes on what they earn as income during the year. Most do so by having their employers withhold a certain amount from their paychecks. Failing to withhold the right amount, however, could result in an unexpected tax bill. One… Read More »
Preparing to File Your Tax Return
The IRS gives taxpayers who cannot meet the April tax filing deadline extra time to submit their returns if they request an extension by April 18th. In these cases, filers have until mid-October to complete and file their returns. This does not mean, however, that taxpayers should put off filing until the deadline. Those… Read More »
IRS Officers No Longer Permitted to Make Unannounced Visits
In July, the IRS announced a major policy change that will effectively end unannounced visits from agency revenue officers. The new policy went into effect immediately and except in a few specific circumstances, will bar IRS employees from showing up at taxpayer homes with no notice. Instead, these visits will be scheduled ahead of… Read More »
Many Taxpayers Still Owed Refunds
According to the IRS, more than 1.5 million taxpayers are still eligible for a refund for tax year 2019, but cannot claim it until they submit a tax return for the same year. The agency estimates that these refunds total nearly $1.5 billion, with an average median refund of almost $900. In most cases,… Read More »
How The IRS Will Contact You
The IRS only initiates direct contact with taxpayers in certain situations and in particular ways, namely when a taxpayer has failed to file a tax return or is struggling to pay a tax debt. Typically, taxpayers who encounter these kinds of tax issues will receive multiple letters through the mail from the agency. It… Read More »
Did You Miss the April 18th Tax Filing Deadline?
Although the deadline for filing taxes for 2022 technically passed on Tuesday, April 18th, those who were unable to file can still do so without incurring significant penalties and fines. There are also options for taxpayers who didn’t file because they are currently unable to pay the entirety of a tax bill. For help… Read More »
IRS Provides Taxpayers With COVID-19-Related Penalty Relief For Certain Tax Returns
Many taxpayers are still struggling financially from the effects of the COVID-19 pandemic. In response, the IRS recently announced a new tax relief package that should be helpful to many of these families. Under these relief measures, individuals and businesses who failed to file certain 2019 and 2020 tax returns on time will be… Read More »
What To Know About Tax Penalties
Taxpayers who can’t meet their tax obligations could end up owing a penalty to the IRS. Fortunately, taxpayers can avoid this by entering into a payment plan or installment agreement and paying their debt off over time. To learn more about how to avoid incurring hefty tax penalties, reach out to our legal team… Read More »
Do You Still Need To File Your Taxes?
The tax filing deadline for most individuals was in mid-April. Fortunately, those who were unable to meet that deadline can still file their taxes without accruing major penalties. Technically, those who requested an extension have until October to file, but are not barred from doing so earlier, which has a number of benefits. The… Read More »
