Tax Penalties For the Uninsured One of the issues that we are starting to see more of at our tax law offices in San Diego, El Cajon and Orange County revolves around tax penalties for not having health insurance. It may have been easy to ignore the tax penalties for the uninsured in the past,
irs penalties
How the IRS calculates interest
Filing a tax return on time and paying any taxes due allows you to avoid having to worry about paying any additional penalties and interest the IRS may charge. However, every year there are taxpayers who find that they are unable to pay their tax obligations on time. These taxpayers face paying not only significant
How IRS Interest is Calculated
The IRS has many different penalties they can place against taxpayers if they believe you have a balance due after tax day. If you find yourself with a large balance due to the IRS, FTB, EDD, or SBOE, these agencies will impose high percentage penalties on the balance due, and they may begin garnishing your
Tax Penalties
The penalties associated with a tax debtor’s federal tax obligations can be extraordinarily burdensome if not avoided by following the appropriate Internal Revenue Service (IRS) procedures for taxpayers. Keep in mind that these penalties are not set in stone, and may vary depending upon the facts of a taxpayer’s situation, and in light of a
Criminal Investigations
As a general rule, one should always file their tax returns regardless of that person’s ability to pay their taxes. That said, failure to file will not automatically result in a criminal investigation. According to the IRS, the average late filer has failed to file for three years or more and owes approximately $70,000. Furthermore,