they must pay advance tax; otherwise, they will be subject to penalties and penal interest. Therefore, for FY 2024–2025, the third instalment of advance tax must be paid by December 15 ...

Failure to pay advance tax by the stipulated deadlines can lead to penalties under the Income Tax Act. Interest at 1% per month is levied on any shortfall or non-payment, calculated until the ...

After all, you don't want to end up paying all of the tax and all of the interest, even if there are no penalties ... Having all that work done in advance can make a world of difference.

Speak to a tax relief expert about your options today. If you don't pay your balance or make arrangements with the IRS, penalties and interest will continue to accrue. The penalty for failure to ...

The IRS allows taxpayers to file late tax returns, but failing to do so promptly can lead to penalties, interest, and the loss of potential refunds. Whether you owe taxes or expect a refund ...