Great question! Filing a tax extension refers to a process by which taxpayers can request additional time beyond the original tax filing deadline to submit their tax returns to the Internal Revenue Service (IRS). In the United States, the standard tax filing deadline for most individuals is typically April 15th each year, unless that date falls [...]
As we approach the April deadline, it's crucial for individual taxpayers to understand the potential penalties and interest that may accrue if taxes remain unpaid after the tax deadline. The IRS imposes three distinct penalties for failing to pay taxes and file tax returns by the April 15th deadline: the failure-to-file penalty, the failure-to-pay penalty, and [...]
Hey, Abe! I have been gathering my expenses for the upcoming tax year, but I am getting all turned around when I try to ensure that everything is included. Where do I need to start with expenses, and what all factors in to the business?Tax season can be a stressful time as a business owner. Fortunately, [...]
