Trustway Accounting launches new guide on how to avoid costly late fees from failing to file taxes.
-- As another tax season comes to an end, Trustway Accounting is launching new informational resources to help individuals and small businesses understand the financial consequences of missing tax deadlines. The new guide breaks down the risks of not filing tax returns on time, including how quickly IRS penalties can grow and what steps taxpayers can take to limit the damage.
Read more: https://trustwayaccounting.com/post/tax-day-terror-happens-dont-file-taxes
Tax non-filing continues to be a major issue across the U.S., with the IRS reporting over $77 billion in unpaid taxes due to unfiled returns in 2021 alone. The failure-to-file penalty tacks a 5% monthly penalty onto the outstanding sum, which can rise to 25% of the total bill. The failure-to-file penalty is 10 times higher than the failure-to-pay penalty, meaning it’s crucial to file, even if payment isn’t possible immediately.
“Many people don’t realize that simply filing late—even if they owe nothing—can lead to significant penalties,” said a spokesperson for Trustway Accounting. “This new service is meant to inform, protect, and give people a clear path forward if they’ve fallen behind.”
Trustway Accounting offers personalized tax planning, penalty assessments, and filing assistance to help reduce or eliminate penalties. Their team works with individuals and businesses to review prior-year returns, manage ongoing bookkeeping, and create tax strategies that reduce risk and improve financial clarity.
The firm also offers support for tax return preparation, retirement account planning, small business reporting, and tax optimization for both federal and state returns. Trustway’s team of tax professionals helps clients stay organized, on track, and fully informed year-round.
“Smartest tax service that I fully trust for max benefits and accuracy. Great service. Fast results and reasonable fees,” said one satisfied customer. “I highly recommend Trustway.”
About Trustway Accounting
Trustway Accounting is a Hoover, Alabama-based financial services firm offering a full spectrum of tax planning, accounting, and business advisory services. With decades of combined experience, the team helps individuals and small businesses stay compliant, reduce tax burdens, and build secure financial futures.
Interested parties can learn more here: https://trustwayaccounting.com/post/tax-day-terror-happens-dont-file-taxes
Contact Info:
Name: Anastaxia Wang
Email: Send Email
Organization: Trustway Accounting
Address: 1236 Blue Ridge Blvd, Hoover, Alabama 35226, United States
Website: https://trustwayaccounting.com
Source: PressCable
Release ID: 89158420
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