Tag: late taxes

Does a Company Need to Be a 501(c)(3) to Be a Charitable Tax Deduction?

Written by Paul Belfiore on December 11, 2020. Posted in Blog, Taxes.

Nashua, NH Resident Has Concerns

A 501(c)(3) organization is one that is recognized by the federal law as a non-profit. These organizations are recognized by the IRS as being tax-exempt with primary activities being of a charitable nature. To be able to deduct charitable contributions on your taxes, organizations much fall under section 501(c)(3). This is also a good way to affirm whether the organization is indeed a charity.

Will You Incur a Penalty if You Miss the Tax Filing Deadline?

Written by Paul Belfiore on November 13, 2020. Posted in Blog, Taxes.

Goffstown, NH Resident Has Questions

Not filing your taxes on time could result in a failure-to-file penalty. This penalty is 5% of the unpaid taxes for each month that the tax return is late, up to five months. Continuing to ignore your taxes could result in the IRS taking action in the form of a federal tax lien on your property, seizing your property and even filing charges for tax evasion.