" What Are The Tax Consequences Of Not Filing a Tax Return By Octo 15? "

If you owe money to IRS, The Tax Consequences can be as follows:
1.  Failure to File a Tax Return Penalty
2.  Penalty For Late Filing 
3. Interest Charges on the Payment Owed to IRS.
For Q & A, Call Kash 925 963 4891@ Yajnik and Mehta Associates.

WHAT TO DO AFTER FILING TAX EXTENSION IN APRIL 2012?

REMEMBER EXTENSION TO FILE TAX RETURN IS NOT AN EXTENSION TO PAY TAXES.  IF YOU OWE TAXES, IT IS BETTER TO FILE TAX RETURN AS EARLY AS POSSIBLE TO REDUCE THE INTEREST CHARGE.  A SECOND EXTENSION IS NOT AVAILABLE.  eFILE TAX RETURN BY OCTO 15, 2012.
FOR Q & A CALL KASH @ YAJNIK AND MEHTA ASSOCIATES 925 963 4891

DID YOUR CORP. FILE EXTENSION?

WHEN THE S-CROP. , C-CORP FILES AN EXTENSION BY MID MARCH, THE 2011 TAX RETURN NEED TO BE FILED BY SPT. 15, 2012. A SECOND EXTENSION IS NOT AVAILABLE.  IT IS AN EXTENSION TO FILE NOT EXTENSION TO PAY IRS.

FOR Q & A CALL KASH @ YAJNIK AND MEHTA (925) 963 4891

WHAT TAXPAYERS WITH FOREIGN BANK ACCOUNTS NEED TO KNOW ?

IRS OVERSEAS TAX COLLECTION EFFORT ON WORLDWIDE INCOME OF US CITIZENS NETTED IRS 5 B$ THROUGH OFFSHORE VOLUNTARY DISCLOSURE PROGRAM (OVDP).
TOTAL OF 33,000  DISCLOSURES.
THIS IS DONE UNDER THE FOREIGN ACCOUNT TAX COMPLIANCE ACT (FATCA) TO STOP OFFSHORE TAX EVASION AND ENSURE TAX COMPLIANCE.
FOR Q & A,  CALL KASH @ YAJNIK AND MEHTA ASSOCIATES  (925) 963 4891