The Internal Revenue Code imposes a penalty for the failure to file returns on a timely basis. In order to avoid the late filing penalty, the taxpayer must prove that the failure to timely file a return was due to reasonable cause. Although it may sound simple, it is actually quite difficult to get ...

Hard to believe that May is here. Although the deadline for filing the 2020 tax return has been extended to May 17, 2021, it is important that you file your return on time since failure to do so will trigger a late filing penalty. The penalty for late filing a tax return is 5% of […]...