In a prior post, we highlighted a number of penalties that you want to avoid with regard to paying taxes; specifically fees on late payments and unpaid taxes. While many people are afraid of the extra costs that can accumulate from unfiled returns or unpaid taxes, the real fear comes from the IRS’ ability to seize property.
Fact vs. myths in tax collections
Nearly $1 billion in unclaimed tax refunds remain
In prior posts, we have noted how the slogan “it’s refund season” has inspired people to file their federal income tax returns early, so that they can get their refunds just as quickly. Because of this, millions of Americans have filed their returns well in advance of the April 18, 2016 deadline.
Tax filing penalties that you want to avoid
It is not common for people who are expecting a tax refund to wait until the last minute to file their federal income tax return. The procrastination is usually reserved for those who believe that they will owe Uncle Sam money. After all, who wants to wait to get money back from the government?
You may want the swag bag, but not the tax bill
Last Sunday was the movie industry’s biggest night. Of course movie buffs and casual fans alike were interested in who wore what on the red carpet, who won awards and how long the show was overall.
