6 Common Questions About Taxes

When filing their taxes, some people have tax questions that they’re too embarrassed to ask because they think they’re too simple. But this couldn’t be further from the truth. In fact, many of these common questions are extremely important to avoid making mistakes that could result in stiff penalties from the IRS.

How to Get a Tax Return Extension

Now that tax day is here, if you haven’t filed your federal and state income taxes there’s no need to panic. You still have an opportunity to do so without severe penalty. All you have to do is file a six-month extension with the Internal Revenue Service.

Understanding Tax Fraud

Tax fraud is considered failure to file taxes or filing fraudulently. Both of these situations carry penalties to offenders. However, the severity of the penalty and how the IRS will come after you depends on which offense you’ve violated and how flagrantly you violated it.

Failure to File Taxes