Direct Tax

Maximizing Medical Expense Write-Offs on Your Arizona Income Tax Return

If you’re an Arizona resident with significant unreimbursed medical costs, the state’s uniquely generous tax rules offer a major opportunity.…

3 weeks ago

Mastering Form 7004: Who Needs It, Timing Strategies, and Implications for 2025–26

Form 7004, “Application for Automatic Extension of Time To File Certain Business Income Tax, Information, and Other Returns,” is a critical…

3 weeks ago

Late Form 1065 Filing Without Tax Due: Is There Still a Penalty?

Partnerships must file Form 1065 annually to report income, deductions, gains, losses, and other important information. Unlike corporations, partnerships themselves…

3 weeks ago

Late Form 1040 Filing with a Refund Due: Will You Still Get It?

Filing your federal tax return late can be stressful, but what if you are owed a refund? Many taxpayers wonder…

3 weeks ago

Late Filing vs. Late Payment: Understanding the Difference in IRS Penalties

When it comes to federal taxes, missing deadlines can lead to costly penalties. However, the IRS treats late filing and…

3 weeks ago

Late Filing Penalties for Form 1120‑S: What S Corporations Need to Know

Form 1120‑S is the annual return S corporations use to report income, deductions, gains, losses, and other items that flow through to…

3 weeks ago

Late Filing of IRS Form 1040: How Much Will It Cost You in 2025?

Filing your federal income tax return late can be costly. The IRS imposes penalties and interest on taxpayers who do…

3 weeks ago

Late Filing of Form 1099 or W‑2: Penalties for Missing the Information Return Deadline

Employers and payers must furnish wage and nonemployee compensation statements—Form W‑2 for employees and Form 1099 for contractors—to recipients and the IRS…

3 weeks ago

K‑1 Delays: Repercussions for Late Form 1065 and S‑Corp Filings

Partnerships and S‑Corporations must issue Schedule K‑1s to their partners or shareholders each year so that recipients can accurately report…

3 weeks ago

IRS Form 5471/8865: Reporting Deadlines for Controlled Foreign Corporations and Partnerships

U.S. taxpayers with interests in certain foreign entities must comply with rigorous information‐reporting requirements under the Internal Revenue Code. Two…

3 weeks ago

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