Article Date:
January 2008


Word Count:
112

 

 

Lawmakers Increase Penalties


To pay for the “Heroes Earnings Assistance and Relief Tax Act of 2007” and add a drip of money (a measly $297 million over five years) to deficit reduction, lawmakers increased the minimum penalties for failing to file

·

S corporation returns to $100, and

·

individual returns to $250.

 

The new penalties probably won’t scare you into taking care of your filing requirements, but this will: Your chances of IRS audit jump dramatically when you fail to file your tax returns on time. ... Log in to view full article.

Log in to view full article
Already a subscriber?
 
Email Address

 
Password

Log In Send me my password

You'll be able to read the full article and get instant access to the last few issues of the Tax Reduction Letter

Not yet a subscriber?
 
with a money-back guarantee