What Happens if You’re Late Filing Taxes?

It’s something we all fear – filing our income taxes late. We know there’s always a price to pay, but exactly how bad is that price and what exactly can we expect? If you’re curious about what the IRS charges taxpayers when tax returns…

What All Taxpayers Should Know About Tax Return Late

Doing your taxes can take some time, especially if you are handling all the paperwork yourself. Rushing through a tax return can lead to serious mistakes that can end up costing taxpayers a good chunk of their refund. However, not filing on…

Expenses You May Not Know You Could Claim on Your Tax Return

Let’s face it, no one likes doing their taxes. The popular saying links the terms “death and taxes” for a reason. It’s a lengthy, arduous process and there are a million ways to make a mistake. You may forget to include an independent…

California Tax Evasion Penalties

Like many taxpayers in California, you may have made a few errors on your tax return that may or may not have given you extra money back on your return. Or, you may have avoided reporting or forgot to report some information on your return.…

Does Filing an Amended Tax Return Make You More Likely to Get Audited?

The last thing anyone wants is to be on the IRS’s radar. Unfortunately, there are certain things that make a taxpayer more likely to get audited than others. For example, filing taxes long after the deadline or making significant errors on…

What to Do if You Made a Mistake On Your Tax Return

The deadline to file your income taxes if you applied for an extension was yesterday. Now, raise your hand if you left filing to the last minute – again. (Guilty) For anyone who rushed to get their taxes in on time before the 11:59 p.m. cutoff,…

Is e-Filing Taxes the Right Choice for You?

Is e-Filing Taxes the Right Choice for You? Many taxpayers ask themselves this question each year: Should I have an accountant do my taxes or should I do them myself? The reality is that many tax payers opt to e-file their taxes. Filing electronically…

Tax Extension Pros and Cons

Many taxpayers share one common quality among them: procrastination. Hey, it’s not our fault if we have other things that consume our time, like our jobs, kids, significant others, etc. Unfortunately, filing income taxes is a lengthy and arduous…

Common Tax Filing Mistakes to Avoid

When it comes down to filing your taxes, there’s a lot at stake. Not only can you miss out on hundreds – or possibly even thousands – of dollars if you make a mistake, but even the tiniest of errors can lead to colossal and endless problems…

Do You Have To Claim Stocks When Filing Taxes?

No one likes to lose money – especially to the IRS. However, unfortunately, there are times when we are required to by law. One of those times is when we file our yearly income taxes. Now, many people might be under the impression that only…