No one likes paying taxes, but its a burden we all must bear whether we reside right here in Stark County, Ohio in Northeast Ohio or on one of Hawaii’s beautiful tropical islands. However, for some taxpayers this tax season, 31 forms were delayed until March due to last minute tax law changes. The qualified Certified Public Accountants at Appalachian Basin CPAs in Canton, Ohio can tell you, tax laws can change at any time and they change frequently. For those who were in affected by the last minute changes in the American Taxpayer Relief Act of 2012, this could have possibly been a huge inconvenience. Fortunately, for these taxpayers who would normally incur a late payment penalty due to this inconvenience, the IRS has decidedly issued tax penalty waivers.
The late issuance of tax forms can prevent taxpayers from having the time they need to assess their tax liability when requesting an extension to file. Fortunately, the IRS recognized this and has issued a tax penalty waiver for those who are filing one or more of the 31 forms affected by the changes in tax law this year.
“Because the IRS automatically assesses the Sec. 6651(a)(2) late payment penalty, relief under this notice is obtained by responding to the penalty assessment notice in a letter, explaining the taxpayer’s eligibility for relief, identifying which of the forms eligible for relief were included with the taxpayer’s return, and referring to Notice 2013-24 in the letter”
-Sally P. Schreiber
April 15th has already passed, but for those small business owners around Stark County, Ohio, the staff at Appalachian Basin CPAs in Canton are available to help. Their team of qualified Certified Public Accountants are well known around the accounting world in Northeast Ohio and beyond for their dedication and professionalism in everything from accounting, auditing, management consulting, tax consulting and preparation. With their vast experience, knowledge and understanding of tax law, they would like to warn that while you may be waived from a late payment penalty, you will still be responsible for the interest that has been incurred on any amount that is owed to the government.
Regardless if you are looking for a reliable resource in Stark County, Ohio to assist in preparing your Northeast Ohio based company’s taxes or wondering if you qualify for a tax penalty waiver, the qualified staff of Certified Public Accountants at Appalachian Basin CPAs can assist with all of your accounting needs. So, when you receive your penalty assessment notice in the mail, don’t hesitate to contact their office in Canton, Ohio at 330.437.1182 to schedule an appointment. With the help of their tax and accounting experts, you can rest assured you aren’t receiving a late payment penalty and are paying only what you owe the government.
Appalachian Basin CPAs
213 Market Avenue North
Canton, Ohio 44702
330.437.1182
www.abbacpas.com