FAQ: Can the IRS impose penalties if a return is not files/tax not paid?

Amperage | February 17th, 2016

Yes, the IRS can impose penalties if a tax return is not timely filed or if a tax liability is not timely paid. As with all IRS penalties, the rules are complex. However, a taxpayer may avoid a penalty if he or she shows reasonable cause. Failure to file The penalty for failure to more

How do I? Prove business expenses

Amperage | February 17th, 2016

Everyone in business must keep records. Among other things, good records will help a business prepare the business tax returns, and will support items reported on tax returns. Taxpayers also must keep their business records available for inspection by the IRS. In order to claim any deduction, a business owner, like any taxpayer, must more

February 2016 Tax Compliance Calendar

Amperage | February 17th, 2016

As an individual or business, it is your responsibility to be aware of and to meet your tax filing/reporting deadlines. This calendar summarizes important tax reporting and filing data for individuals, businesses and other taxpayers for the month of February 2016. February 1 Individuals. Individuals may file their 2015 Form 1040 and avoid any more


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