Posts Tagged ‘Penalty’

Will IRS taxes follow you if you move to another state?

  • December 22nd, 2020
  • David Greene
  • Comments Off on Will IRS taxes follow you if you move to another state?

I have been asked this question before. First there is no question that your federal tax liability will follow you when you move to another state.  The IRS can easily find you by several means, such as your W-2, so…

Are foreign bank accounts illegal for American citizens?

  • October 8th, 2020
  • David Greene
  • Comments Off on Are foreign bank accounts illegal for American citizens?

It’s amazing the rumors that abound about the IRS.  You will not get in trouble for merely having a foreign bank account, so long as you report it properly on your tax return.  Many people and businesses have such accounts…

When a military member files a late return, is she penalized?

  • September 30th, 2020
  • David Greene
  • Comments Off on When a military member files a late return, is she penalized?

The answer to this question depends on where the she is actively serving. If she is serving in the US or in a non-combat zone, there is no special relief for late filing. She will be charged the usual late…

Is there a penalty for a tax return filed late that shows a refund?

  • September 15th, 2020
  • David Greene
  • Comments Off on Is there a penalty for a tax return filed late that shows a refund?

Fortunately, the answer is “No.”  If you are due a refund on your taxes and file the return after the filing deadline (July 15 this year), the IRS will not charge you a late filing penalty.  This is because you…

Should I file my 2019 return if I did not file last year?

  • May 5th, 2020
  • David Greene
  • Comments Off on Should I file my 2019 return if I did not file last year?

First, you should know that you now have until July 15 to file your 2019 return. No matter what else you do or don’t do, be sure to file your return on time.  You should do this even if you…

The PEOPLE FIRST INITIATIVE from the IRS

  • April 3rd, 2020
  • David Greene
  • Comments Off on The PEOPLE FIRST INITIATIVE from the IRS

In conjunction with the CARES Act and other directives from the President, the IRS has begun a new initiative called the People First Initiative.  The highlights are as follows: If you are in an existing Installment Agreement, payments due between…

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