Monthly Archives: April 2019
Estimated Tax Penalties for Farmers and Fishermen Waived
Individuals, including farmers and fisherman, who chose not to make quarterly estimated tax payment this year were required to file their 1040’s for 2018, along with a payment for all taxes owed, by March 1st. Initially, taxpayers who fell under this category, but who failed to comply by the deadline were subject to a… Read More »
Most Common Tax Refund Myths
Although the IRS issues most tax refunds in less than three weeks, there isn’t actually a specific way for taxpayers to discover when their refunds will be issued. There is important information, however, that can help taxpayers understand the refund process. For instance, the status of a person’s tax return will be posted on… Read More »
What are My Options if I Cannot Pay My Taxes in Full?
As a result of the changes made by the Tax Cuts and Jobs Act (TCJA), which went into effect last year, many taxpayers have struggled to determine how much they owe in taxes, whether they qualify for a refund, and who is eligible for a waiver of the tax penalties that come with a… Read More »
IRS Waives Tax Penalty for Certain Taxpayers
Early in January, the IRS announced that it would be waiving the estimated tax penalty for many taxpayers whose federal income tax withholding and estimated payments from last year fell short of their total liability for 2018. However, this waiver only applies in certain situations, so if you believe that you might qualify for… Read More »
