Reasons For Getting IRS Penalties
Posted by admin on November 19, 2007 in Finance :: Tax
There are many reasons why you could be pressed, even litigated, with IRS penalties. Some of the most common reasons are not filing the returns at all, or filing the returns later than the due date of filing, paying the dues at a later date than the due date, underpaying the due amounts, over-evaluating the incomes when filing the returns and hiding applicable taxes that might happen out of the blue, such as the gift taxes and the property taxes. Of course, there is one more very important area that must be looked into - frauds. The IRS loves to slap penalties on cases that are obviously frauds.
