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Avoid a Larger Penalty by June 14th

  • June 12th, 2019

2019 – 06/10 Paying a hefty tax bill can be tough. But the IRS urges taxpayers who owe tax and haven’t filed their 2018 returns to act by Friday, June 14, to avoid a larger penalty. The failure-to-file penalty (generally 5%) is assessed when a taxpayer owes taxes and hasn’t filed a return or requested…

Reporting Foreign Financial Accounts

  • June 12th, 2019

2019 – 06/10 U.S. taxpayers with an interest in or signing authority over certain foreign financial accounts must report those accounts on their tax returns. This applies to foreign financial accounts with aggregate value exceeding $10,000 at any time during 2018. Form 114, the Report of Foreign Bank and Financial Accounts (FBAR), must be electronically…

June 17th Deadline for Estimated Tax Payments

  • June 12th, 2019

2019 – 06/07 A reminder: June 17 is the next deadline for those who make estimated tax payments. Self-employed individuals, retirees, investors and some individuals involved in the sharing economy are among those who often need to pay quarterly estimated taxes. That’s because all, or a substantial part, of their income isn’t subject to withholding….

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