Failure to pay taxes? IRS consequences of filing late or never filing at all To often, taxpayers owe taxes at the end of the year and decide not to file. The rationale is that, “if I cannot pay the tax debt owed, what’s the point in filing.” Wrong. This way of thinking can be costly….

Payroll Tax 101 for the Business Owner Like any good business owner in the U.S., you’ve been paying employees on time, and you’ve been withholding federal income taxes and Social Security/Medicare taxes. But your responsibility doesn’t end there — now you must report the amounts that you have been withholding and pay those amounts, including…