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Stay Out of Trouble with the IRS: Penalty Prevention Tips
Season 6 Episode 158
Are you tired of tax season stress and surprises? Do the words "IRS penalties" keep you up at night? Tune in to this Tax Talk Thursday episode with Ralph Estep Jr. as he reveals the most common penalty pitfalls taxpayers face - and shares how to avoid them.
Proactive Tax Planning: Avoid IRS Penalties with Ralph Estep, Jr.
In this episode of Tax Talk Thursday, host Ralph Estep Jr. delves into the stressful world of tax season and IRS penalties. Ralph reveals the most common penalty pitfalls taxpayers face and shares essential strategies to avoid them. Learn about the hefty failure to file penalty, and discover how underpayment penalties apply if you owe over $1,000. Tune in to uncover the IRS' favorite fees, see if you're penalty-proofing properly, and learn how to keep more of your hard-earned money come tax time.
00:00 Episode Overview About Common IRS Penalties
00:18 Welcome To Tax Talk Thursday
01:21 Daily Bible Verse
01:54 Failure To File Penalty
03:02 Failure To Pay Penalty
04:14 What Options Do You Have To Pay What You Owe?
05:17 Underpayment Penalty
06:22 Accuracy-Related Penalty
07:16 Bible Principle To Diligently Manage Tax
07:30 Final Thoughts and Recap
08:33 Outro
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Published on 1 year, 6 months ago