What are the penalties for late filing and payment of taxes in the United States?

Fines for late filing of tax returns are deliberately set high enough to encourage taxpayers to do everything on time. In addition to this, the IRS may impose additional fines and interest on unpaid taxes, which will further increase your score, writes GOBankingRates. It is important to make an effort ...

The deadline for filing tax returns has not been extended for everyone: who must pay taxes by April 15

Some taxpayers still need to pay money in April this year, although the IRS has extended the tax filing season to May 17, CNBC recalls. Those making the estimated tax payments still have to make the first quarterly levy, which ...

Child tax credit: what you need to know about the amount, timing and overpayment

If you are eligible for the Revised Child Tax Credits, you will receive half of the money in 2021 and the rest in 2022. What else you need to know about these checks, says CNET. Thanks to the Extended Child Tax Credit ...

Tax season 2021: 9 costly mistakes to avoid

Tax season is in full swing. And if you are tempted to rush to filing your return, be careful not to make careless mistakes, or you may miss out on a large refund, owe more taxes, or face an IRS audit. ABOUT…

Tax season 2021: when to expect a refund and how to track it

Now that tax season has arrived, it's time to start tracking where your refund will be after filing your tax return. CNET explains how to do this. You will be able to track your tax refund status as early as 24 hours after you file your tax return ...

Tax season 2021: what in your tax return might alert the IRS

This tax season can be challenging. Experts say that in addition to figuring out how coronavirus financial aid could affect tax refunds, more taxpayers will make mistakes and receive audit notices from the IRS. In some cases, this may mean ...

Tax season is approaching: what you need to know

The U.S. Internal Revenue Service (IRS) will begin accepting returns for 2020 on February 12. We will tell you what you need to do to submit your tax return on time and without errors. Check if you received income documents In January or February you should receive forms, ...

Tax season 2021: key dates and IRS recommendations

The Internal Revenue Service (IRS) announced on its official website that the country's tax season will begin on February 12, 2021, when the agency will begin accepting and processing returns for the 2020 tax year. Season start date for individual tax filers ...

Tax season 2021: how to prepare and file your tax return online for free

The tax season will begin on February 12, but some taxpayers may already be looking at their taxes for 2020, USA Today writes. The Free File Alliance is an IRS program that partners with private companies to provide free tax training to millions of tax fillers ...

IRS offers new tax credits and deferrals for the duration of the pandemic

Taxpayers, who still owe money to the government, will receive enhanced payment options, Fox Business writes. On Monday November 2, the IRS unveiled new debt relief options for taxpayers who are still recovering from the coronavirus pandemic. ...

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