It's been one week since U.S. taxpayers were required to file and pay their taxes. For some taxpayers, the filing deadline passed without incident and they likely won't even think about their taxes until next March or April. Others, however, may be unable to shake the...
Month: April 2016
Haven’t filed your taxes yet? Here’s how to get an extension
The 2016 tax filing deadline is finally upon us. Today, April 18 is the deadline by which U.S. taxpayers must file and pay their taxes for the 2015 calendar year. While the deadline is roughly the same each year, and shouldn't therefore be a surprise to anyone, some...
In some cases, the IRS may actually forgive late-filing penalties
The 2016 April 18 tax deadline is quickly approaching and, barring special circumstances, taxpayers are expected to both file and pay their taxes on time. While the Internal Revenue Service fully expects the vast majority of U.S. taxpayers to comply with the April 18...
Global financial crimes case spotlights criminal tax fraud
The media has a penchant for giving scandals and controversies catchy, memorable tags.The so-called "Panama Papers" is certainly recent confirmation of that.We suspect that most of our readers in Connecticut and elsewhere know a thing or two about those papers after...
Small tax mistakes can add up to big costs and headaches
While no one enjoys doing their taxes, to avoid costly penalties and fees, it pays to do them correct the first time. Despite what a taxpayer may think, the Internal Revenue Service has numerous resources at its disposal which helps the agency easily identify certain...