Tax blog
What is an IRS Accuracy Related Penalty?
An IRS accuracy-related penalty is a charge of 20% of a taxpayer’s underpayment of federal taxes due to negligence, substantial understatement of income tax, or other errors found on their…
Guess Who’s Back — The IRS Ramps Up Operations Again
The COVID-19 Pandemic threw a wrench in the works for the IRS, leading to office shutdowns and reduced capacity across the board. However, this won’t be the case for much…
Does Owing the IRS Affect Your Credit Score?
If you’re behind on taxes, you might be wondering if owing the IRS hurts your credit score. Negative marks on your credit score can have a lasting impact, making it…