David N. McCullough CPA PC

Financial, Tax, and Family Office Services


Penalties and Interest

IRS Penalties and interest – The Very Basics for Individual Taxpayers     Interest is the easiest. For the past several years, the interest rate has been 3%, per annum, compounded daily, for both underpayments and overpayments.   There are three types of penalties most taxpayers will see: Underpayment of estimated tax Failure to file …

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