Are Tax Penalties Deductible

In 2022 alone, the IRS levied nearly $23.8 billion in additional taxes for returns not filed in a timely manner, while recouping almost $2.3 billion from delinquent filings. This statistic is staggering. It brings to light the substantial financial impact of missing tax deadlines, and also raises a crucial question. If you find yourself or your business … Read more