IRS Interest Rates for the First Quarter of 2014

IRS Interest Rate for the calendar quarter beginning Jan. 1, 2014 three (3) percent for overpayments [two (2) percent in the case of a corporation]; three (3) percent for underpayments; five (5) percent for large corporate underpayments; and one-half (0.5) percent for the portion of a corporate overpayment exceeding $10,000. Under the Internal Revenue Code, […]

IRS Failure to File or Failure to Pay Penalties

When it comes to filing your tax return, the law provides that the IRS can assess a penalty if you fail to file, fail to pay or both. Here are eight important points about the two different penalties you may face if you file or pay late. If you do not file by the deadline, […]