Rob Arena Arena and Associates, Inc. – 1040 Tax Filing Date is Here

If you are in need of help with your IRS tax liability – there is no better name in professional help than Rob Arena at Arena and Associates, Inc. Check our website at aataxhelp.com for more information. Call 303-847-4038 for a free consultation.

4/18/2017

The tax filing deadline for 2016 personal returns has arrived. Taxpayers must file their 2016 return today or file form 4868 requesting an automatic extension. Failure to meet this deadline will result in penalty and interest charges for returns with a balance due. For those taxpayers choosing an extension, they should be aware that the extra time to file is not extra time to pay. If you know or believe you have a balance due then a taxpayer should include the expected tax balance due to avoid a late payment penalty. For those taxpayers on an existing payment plan with the IRS, failure to timely file or pay can result in a default of any payment agreement and a return to collection action. Self-Employed taxpayers should also be diligent to make their estimated tax payment for Q1 2017 as that deadline is also approaching.

Rob Arena Arena and Associates, Inc. – IRS Enforcement Changes

If you are in need of help with your IRS tax liability – there is no better name in professional help than Rob Arena at Arena and Associates, Inc. Check our website at aataxhelp.com for more information. Call 303-847-4038 for a free consultation.

3/31/2017

Internal Revenue Service enforcement action was down in 2016. The IRS has experienced continuing budget cuts and this is being reflected in a reduced number of audits, liens and levies. The lower oversight and enforcement action also lowered collection figures. The lower lien figures may forecast and uptick in activity for 2017 as the IRS guidelines for liens have not changed and therefore a backlog of work exists.