IRS, State & City Tax Return Filing New York
The potential for Legal prosecution for failure to file Tax Returns is very small; however, the economic consequences for Unfiled Returns are severe – there is a maximum 25% late filing penalty that can be applied to the tax. The late filing penalty combined with a late paying penalty of up to 22.5% and accruing interest can easily exceed more than 50% of the original tax liability in many cases.
It is almost always in the best interest of the taxpayer to file, regardless of ability to pay. Richard Cotton will work with you to prepare and file current and prior period Tax Returns.
If you would like to discuss any of your Tax Return matters, Please free to contact us.