Wednesday, May 31, 2017

What Happens If You Don't File a Past Due Return or Contact the IRS?

What Happens If You Don't File a Past Due Return or Contact the IRS?

Experienced Tax AccountantIt's important to understand the ramifications of not filing a past due return and the steps that the IRS will take. Taxpayers who continue to not file a required return and fail to respond to IRS requests for a return may be considered for a variety of enforcement actions--including substantial penalties and fees.

Don't Ignore your Tax Return!

If you haven't filed a tax return yet, call the office today to schedule an appointment as soon as possible.

We are licensed in All States. We are affordable, experienced, and friendly. We are an Authorized IRS e-file Service Provider. If you would like to schedule a Free Initial Consultation to learn more about the tax preparation and tax planning & compliance services we offer to businesses and individuals, send us an e-mail or call Amare Berhie today at 651-300-4777 to schedule a convenient time.
Amare Berhie, Senior Accountant     
CEO, ABA Tax Accounting
651-300-4777


Tuesday, May 30, 2017

What to do if you haven't filed a Tax Return

What to do if you haven't filed a Tax Return

Experienced Small Business Accountant - Tuesday, April 18, 2017, was the tax deadline for most taxpayers to file their tax returns. If you haven't filed a 2016 tax return yet, don't delay. There's still time--and it's not as difficult as you think.

Here's What to Do When Your Return Is Late

First, gather any and all information related to income and deductions for the tax years for which a return is required to be filed, then call ABA Tax Accounting.

If you're owed money, then the sooner you file, the sooner you'll get your refund. If you owe taxes, you should file and pay as soon as you can, which will stop the interest and penalties that you will owe.

If you owe money but can't pay the IRS in full, you should pay as much as you can when you file your tax return to minimize penalties and interest.

Don't Ignore a Tax Bill

The IRS will work with taxpayers suffering financial hardship. If you continue to ignore your tax bill, the IRS may take collection action.

ABA Tax Accounting offers tax help on various topics. Also, if you'd like to learn more about our CFO Services please feel free to contact me.
Amare Berhie, Senior Accountant     
amare@abataxaccounting.com        

(651) 300-4777