There are many penalties the IRS can assess. Below are some of the penalties that pertain to individuals:
-Failure to File
-Failure to Pay
-Failure to Deposit
-Accuracy Related
-Erroneous Claim for Refund or Credit
-Dishonored Check
-Underpayment of Estimated Tax by Individuals
There are a few ways you can avoid paying some IRS penalties:
• File tax returns on time
• Pay your taxes in full
• Apply for an Extension of time to file a tax return
• Set up a payment plan with the IRS
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If you or someone you know is dealing with IRS problems, contact me at 702-469-9426 or candy@numbercruncherllc.tax.
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