Tax
Mar. 29, 2022
Don’t miss April 18 tax day, here’s why
Late tax returns incur penalties, and they can be big. Late payment triggers other penalties. That’s right, the IRS penalizes you if you file late, and penalizes you again if you pay late. So even if you can’t pay, you should file your return on time (or get an extension).
Robert W. Wood
Managing Partner
Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
Does anyone like tax day? Probably not, perhaps not even the IRS and the California Franchise Tax Board who receive an avalanche of tax returns. Yet every year none of us have a choice, we all have to get in the metaphorical line and get our tax returns filed and to pay what we owe. What if you can’t pay? Many people seem to think that if you are short on cash and can’t pay the taxes you owe, you are better off not filing.
Actually, you co...
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