Category Archives: Tax Penalties

Some Exempt Organizations Owe More than $100K in Delinquent Payroll Taxes

While the majority of tax-exempt organizations are in compliance with all of their obligations, those that do not often are significantly delinquent on payroll taxes.  Tax-exempt organizations are, by their nature, not generally required to pay income taxes, they are … Continue reading

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IRS posts “Taxpayer Bill of Rights”

The IRS has just issued a “Taxpayer Bill of Rights” that you should be aware of. The Rights are divided into ten main categories. According to this “cornerstone” document you have The Right: *  to be informed *  to quality … Continue reading

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Failure to File or Pay Penalties: Additional Four Facts

    The number of electronic filing and payment options increases every year, which helps reduce your burden and also improves the timeliness and accuracy of tax returns. When it comes to filing your tax return, however, the law provides … Continue reading

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Failure to File or Pay Penalties: The First Four Facts

The number of electronic filing and payment options increases every year, which helps reduce your burden and also improves the timeliness and accuracy of tax returns. When it comes to filing your tax return, however, the law provides that the … Continue reading

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Voluntary IRS Correction Program can Help Avoid IRS Penalties

IRS is expanding its voluntary correction program for retirement plans.  Sponsors of 403(b) plans can now participate. Under these procedures, employers that discover minor mistakes in their plans’ operations can report them to IRS, fix the errors and pay a … Continue reading

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IRS Practice and Procedure Change: Penalties

In 2012, the IRS continued to pursue penalties to deter noncompliance. Since 2005, accuracy-related penalties assessed against individual taxpayers have increased 757%. In 2013, the IRS will continue to press for accuracy-related penalties in CP2000 under-reporter adjustments and audits. For … Continue reading

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Employment Taxes and the Trust Fund Recovery Penalty (TFRP)

    At Lefstein-Suchoff CPA & Associates, we are committed to providing useful information that helps those faced with a situation requiring tax help for: tax settlements, tax debt, back taxes, IRS tax debt, an IRS levy, IRS tax audits, … Continue reading

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IRS Penalties: Part 4 of 4

The Internal Revenue Code imposes many different kinds of penalties, ranging from civil fines to imprisonment for criminal tax evasion. These penalties are designed to foster compliance. Penalties are generally payable upon notice and demand. Penalties are generally assessed, collected … Continue reading

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IRS Penalties: Part 3 of 4

The Internal Revenue Code imposes many different kinds of penalties, ranging from civil fines to imprisonment for criminal tax evasion. These are designed to foster compliance. Penalties are generally payable upon notice and demand. Penalties are generally assessed, collected and … Continue reading

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IRS Penalties: Part 2 of 4

The Internal Revenue Code imposes many different kinds of penalties, ranging from civil fines to imprisonment for criminal tax evasion. These are designed to foster compliance. Penalties are generally payable upon notice and demand. Penalties are generally assessed, collected and … Continue reading

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