No one likes having to pay additional fines or fees, especially when they are avoidable. This tax season, you can take active measures to avoid potential penalties by planning ahead, verifying information, and distributing forms in a timely manner.
Penalties are charged for failure to timely file tax or information returns, or for filing incorrect returns. They vary depending on the type of return. Continue reading Penalties for Tax Year 2017 ACA and 1099 Reporting