How to Report Late Penalties on Form 1040?

Answer Most income tax forms and payments must be sent to the federal government by April 15 of each year. Penalties are incurred for late payments; specific Internal Revenue Service procedures exist for... Read More »

Top Q&A For: How to Report Late Penalties on Form 1040

Penalties for Late Filing of IRS Form 1065?

The penalties for filing your 1065 tax form late are dependent on whether you owe money or are entitled to a refund. If you do not owe money then there are no penalties; otherwise, you will owe the... Read More »

Form 1040 V Instructions?

When tax time comes and you discover that you’re one of those unlucky souls owing money to the Internal Revenue Service, then you should submit a 1040-V payment voucher. The 1040-V is a simple fo... Read More »

How to Fill out IRS Form 1040?

Internal Revenue Service (“IRS”) Form 1040 is used to calculate and file yearly income tax returns with the IRS. Most individuals, including married couples, who earned more than $3,700 for the... Read More »

How to Show a 1099C on IRS Form 1040?

Lenders provide Form 1099-C to taxpayers if the taxpayers had any debt cancellation during the previous year. The Internal Revenue Service considers the cancellation of debt to be income received b... Read More »