• How Do I Know If I Owe a Tax Penalty?

    In the U.S., we have a pay-as-you-go tax system, meaning that anything you buy or earn is taxed throughout the year, avoiding having to pay a large lump sum during tax season. However, if you have not paid enough taxes at the end of the tax season, you may get a penalty for underpayment from the IRS. But don’t panic – this happens more frequently than you might think, and our JLW Tax & Bookkeeping Services accountants are here to help! Keep reading below to learn more about tax penalties, if you have one, and what will happen after you’ve received a penalty letter. What Does It [...]

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