Viewpoint on tax penalties for filing and payment
The Connecticut Society of CPAs outlines penalties for late filing, late payment, and failure to file. If on time but underpay, a 0.5 percent monthly late payment penalty applies up to 25 percent. If also late filing, an extra 4.5 percent applies, totaling up to 5 percent per month for the first five months. After five months, a 0.5 percent monthly failure to pay penalty can accumulate for 45 more months, potentially reaching 47.5 percent. If not filed within 60 days of the due date, the penalty drops to at least $100 or 100 percent of tax due, whichever is lower.
MENTIONED IN THIS ARTICLE
Connecticut Society of Cpas
IRS
American Express
MasterCard
Discover
Official Payments Corporation
Tips to Avoid IRS Penalties and Manage Taxes in 2002
The article explains how daily-compounded interest accrues on unpaid taxes from the return due date, with rates set quarterly. It outlines options to ease cash flow including low-interest credit cards, direct IRS payments via card services, installment agreements, and an Offer in Compromise, noting fees and the need to file by April 15, 2002 to avoid failure-to-file penalties.
MENTIONED IN THIS ARTICLE
IRS
Irs.gov
Internal Revenue
CPA
Mark Zampino Named Connecticut CPA Society Fairs Director
Mark Zampino serves as the public affairs director for the Connecticut Society of Certified Public Accountants, overseeing outreach and event coordination for statewide fairs and public engagements.
MENTIONED IN THIS ARTICLE
Mark Zampino
The
Connecticut Society of Certified Public Accountants
New Realtors Join Prudential in Southport
Mary Lou Bervino welcomes new Realtors Madge Canning Mimmi Mull and Ron Johnson to the Southport Prudential Connecticut Real Estate office. Canning brings a decade plus as a broker Mull has sales and marketing background including People's Bank Johnson is Cornell trained developer and landscape consultant featured on PBS Victory Garden. Prudential Connecticut Real Estate operates 38 offices with over 1000 sales executives in Connecticut.
MENTIONED IN THIS ARTICLE
Southport
Prudential Connecticut Realty-Jensen-Smith
Madge Canning
Mimmi Mull
People’s Bank
Ron Johnson
Cornell University College of Art and Architecture
Prudential Connecticut Real Estate
Prudential Real Estate
Connecticut
Also Mentioned on This Page
Finance
Michael Pida
Campbell Mortgage
Campbellmortgage
Gerhardt & Associates
Neil Gerhardt
Certified Public Accountant
Brooklawn Classic
Butler's Pantry
Fairfield
Center of Town
Black Rock
St. Mary's By the Sea
Brooklawn
Fin. L.L
L.L
North End
Fin L.L
Inlaw
Conti
Greengarden
Fairfield County
Greengarden Realty Inc
President's
John Hackett
Mark Greengarden
Prudential
Mary Lou Bervino
Post Road
Prudentialct.com
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