So, you’re late on filing your back taxes and aren’t sure of how to handle it. Well, you have one of three options: file now, file later, or file never.  Our advice? You guessed it, file now.  Filing late back taxes as soon as possible is imperative, not only because you’re already late, but because [...]

At the beginning of this month, the Treasury Inspector General released a report describing the negative effect that reduced withholding associated with the Making Work Pay Credit (MWPC) could cause. What the report mentioned is that 15+ million taxpayers could owe taxes when filing in 2009 and 2010 due to the fact that the withholding tables failed to consider certain factors. Moreover, many taxpayers will receive no refund or a reduced refund and some may end up with IRS penalties.