Wealth Transition and Succession Planning Regardless of the type of business you’re running, it’s safe to say that you’ve likely already been impacted by the ongoing COVID-19 pandemic that is making its way across the globe. With no complete end to the situation in sight, many have begun to try to settle into whatever this […]
Tired of having all those old tax records taking up drawer or closet space and collecting dust. People often ask how long records must be kept and the amount of time IRS has to audit a return after it is filed.
Most taxpayers don’t intentionally incur tax penalties, but many who are penalized are simply not aware of the penalties or the possible impact on their wallets. As tax season approaches, let’s look at some of the more commonly encountered penalties and how they may be avoided.