DiSabatino CPA Blog

DiSabatino CPA Blog

A blog by Michael DiSabatino CPA with topics on Tax Savings, Business, Management and more...

What are the Penalties for not paying taxes on April 15th?

The real cost of not paying your taxes until October 15!

This time of year we often see taxpayer's looking to extend the time to pay their taxes due and asking, "what are the penalties if I do not pay my taxes due by April 15."   Here I will address how to estimate the cost of not paying timely - the penalties assessed by the IRS.

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Keeping the Tax Underpayment Penalty at Bay

Keeping the Tax Underpayment Penalty at Bay

With the 2013 tax year behind you, now is the time to plan appropriately to make sufficient estimated tax payments. An underpayment of estimated tax may apply if you still owe $1,000 or more in additional tax after accounting for withholdings and estimated payments made throughout the year. Remember, to avoid underpayment penalties you are required to prepay either;

  • 100% of last year's tax obligation* OR
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IRS Penalty for Lack of Health Insurance!

 

Do You Have a Sleeping Tax Penalty for 2014?

 

If you know someone who lacks health insurance...read this!
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