Avoiding Penalties And Interest From The IRS As An Entrepreneur

Anyone that has owed money to the IRS knows that the penalties and interest is at least half the amount owed. The penalties and interest are substantial because the IRS usually takes about three years to discover the case. During this three year period, the IRS will continue to accrue the penalties and interest on a daily compounding basis. The three-year mark is the point, where the “statute of limitations” comes into effect. When the statute of limitations runs out, then the IRS can no lon...