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Can I Go to Jail for Past-Due (Delinquent) Taxes?

Past-due (delinquent) taxes create a stressful situation for taxpayers who fall behind or file late.  Liens, wage garnishment, and fines only increase anxiety for those behind on their taxes.  To make matters worse, there is a question of an even bigger punishment for delinquent taxes: Can you go to jail for falling behind on taxes?

Are the Penalties Worse for Past-Due Payroll Taxes or Past-Due Sales Taxes?

Your business faces several tax bills each month.  Failure to file either payroll or sales tax with the IRS can cost your business more than expected.

What is Penalty Abatement and How Does it Work?

Are you late filing or paying your taxes? Are you concerned about penalties? Has the IRS contacted you about late taxes? If you answered yes to any of these questions, you are not alone.  Late filing or payment of taxes typically causes severe penalties from the IRS.  However, certain circumstances can cause the IRS to… Continue reading What is Penalty Abatement and How Does it Work?

What is the Penalty for Not Filing an FBAR Form?

Taxpayers who have foreign accounts or interests that exceed $10,000 at any point during the year must submit a Foreign Bank Account Report (FBAR) through the Financial Crimes Enforcement Network (FinCEN) website.  This notifies the U.S. Treasury Department of the accounts.

How to Reduce Your Payroll Tax Penalties

Unpaid payroll taxes can result in penalties against you and your business.  If you have a valid reason as to why the taxes were not paid, the federal agency may consider waiving or reducing your penalties.  With the guidance of your tax attorney, you can try to get your penalties abated.  There are a few… Continue reading How to Reduce Your Payroll Tax Penalties

Reasonable Cause Qualifications for IRS Penalty Abatements

If you are facing penalties from the IRS for paying or filing your taxes late, you have some options to get those assessments removed. Reasonable cause is one method to getting penalty abatement. Learn more about reasonable cause and how to qualify for it. Key Insights We Will Discuss What is reasonable cause? How to… Continue reading Reasonable Cause Qualifications for IRS Penalty Abatements

5 Tax Crimes and Their Penalties

Knowingly not filing your taxes, providing false information, and other tax crimes can have serious consequences for taxpayers.  While some penalties may come in the form of fines, some punishments can be as severe as prison time. Take a look at five tax crimes and their penalties and learn why you need a tax debt… Continue reading 5 Tax Crimes and Their Penalties

EITC Due Diligence Penalties Expand to Other Tax Credits

In February 2014, we published a blog detailing the IRS’s new campaign to up the ante when enforcing the Earned Income Tax Credit (EITC) duty of due diligence. At that time, the Internal Revenue Service penalized tax preparers who failed to meet their duty of due diligence $50 per return.  Now, that penalty is a… Continue reading EITC Due Diligence Penalties Expand to Other Tax Credits