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Tips from Quess Tax Filing Experts
Filing your taxes can feel overwhelming, especially when there’s a risk of costly penalties from the IRS. Whether you're a U.S. resident, non-resident, or a small business owner, the consequences of missing deadlines, underreporting income, or not filing the correct forms can be serious.
1. File on Time – Even If You Can’t Pay One of the most common penalties is the Failure to File penalty. Many people delay filing their taxes because they can’t afford to pay, but this only makes things worse. The IRS charges a higher penalty for not filing than for not paying.
2. Pay What You Can – Partial Payments Help Even if you can't pay your full tax bill, submit as much as you can by the deadline. This reduces interest and penalties over time.
3. Double-Check Your Return for Accuracy Mistakes in math, wrong Social Security numbers, or selecting the wrong filing status can lead to delays and penalties. Expert Tip: Our tax professionals review every return before submission, helping you avoid errors that could flag an audit or result in fines.
4. Report All Your Income – Even from Side Hustles Whether you’re freelancing, running an online store, or earning rental income, it must be reported. Failure to do so can result in a substantial underpayment penalty.Expert Tip: Use Form 1099s, W-2s, and bank statements to make sure you’re reporting everything correctly. We help consolidate your income sources for an accurate filing
5. Don’t Ignore IRS NoticesIf you receive a notice, don’t panic—but don’t ignore it either. Responding promptly can often help you reduce or eliminate a penalty. Expert Tip: Quess experts assist clients in drafting clear responses to the IRS and appealing penalties when justified.
6. Claim Only Valid Deductions and CreditsOverstating deductions or claiming ineligible credits is a fast track to an audit and penalties. Expert Tip: We ensure every deduction is backed by proper documentation, keeping you compliant and maximizing your return.
7. Claim Only Valid Deductions and Credits Many penalties result from incorrect or missing forms. For instance:
- Form 1040NR instead of 1040 for non-residents
- FBAR for foreign bank accounts
- Form W-4 for proper withholding
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