Distributions from an IRA, 401(k) or other retirement
plan generally must be included as part of your taxable income. Withdrawals from a retireme...
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Well, there’s good news
and there’s bad news. The bad news is
that IRS can levy several types of federal tax penalties but the good news is that...
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In
today’s struggling economy, many people may need to know if they can use funds
from their individual retirement accounts to help them through t...
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There are multiple penalties that a State or federal
taxation authority could potentially levy on a taxpayer and all of them will
add substantially ...
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Sales and use tax, or the sales
tax is collected and reported on a local, State level. It is a State taxation authority that may
levy a penalty ag...
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State
and local tax systems on a national basis are extremely diverse. All of the states employ a broad range of
taxes and fees to fund state and ...
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“Tax avoidance” is the proper utilization of the tax
collecting system to reduce the amount of tax debt due by means that are within
the law of ...
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If you fail to pay your taxes, that failure can result in
the IRS levying tax penalties, each penalty can then in turn have an interest penalty
that...
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If there are substantial underpayments of taxes in a
given tax year, the taxpayer will be penalized.
An underpayment is “substantial” if the u...
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The problem of underpaying taxes is significant
because of the penalties imposed by the IRS.
If estimated tax payments are requires and not paid, a...
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In order to better understand how grounds for the
imposition of a “trust fund recovery penalty” comes about it is helpful to take
a close look a...
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The NYS PAID (Penalty and Interest Discount) Program allows an individual taxpayer who owes back taxes to save a substantial sum of money if the debt ...
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