Recent Posts in Taxes Category

  • What Can I Do About Tax Penalties?

    || 9-Feb-2017

    The IRS assesses many types of penalties against tax payers for various tax non compliance issues. These penalties can be very costly to tax payers. For example, Failure to File Penalties can be assessed at 5% of unpaid tax and accrues 5% for each month until they reach a maximum of 25%. IRS also assesses other penalties such as Failure to Pay, Failure to Deposit, Trust Fund Recovery Penalty ...
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  • How Can I Prevent Losing My New York Driver's License if I Owe Back Taxes?

    || 5-Aug-2015

    New York drivers could face license suspension if they opt out of paying back taxes that total more than $10,000. More than 7,000 driver’s licenses had been suspended because of a law that was implemented in 2013 to encourage New Yorkers to stay on top of their taxes. Close to $60 million has been generated from the license suspensions of delinquent taxpayers. The Consequences of Back Taxes ...
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  • Did you know that your income taxes for prior tax years could be dischargeable? Many clients are relieved to learn that this is possible and often times the IRS or state taxing authority will be willing to concede dischargeability of certain tax debt in your case. However, whether or not your taxes are dischargeable could also depend on whether you filed your taxes too late or failed to file them ...
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