Taxes may not be something you want to pay but they do provide some benefits for things in our community such as police and firefighters. They can also help to ensure the roads you travel on are safe and well-maintained. That being said, there is nothing wrong with taking the most deductions allowed by law so you are not paying more than your fair share.
Tax codes can often be confusing and difficult to understand. The downside if completed incorrectly could mean paying a penalty and interest payments. Worse yet, if tax fraud is involved such as, intentionally failing to file a return, willfully failing to pay taxes due, intentionally failing to report all income, and other similar scenarios, fines of up to $500,000 and jail time up to 5 years can be imposed.
We can help with your tax preparation. Call 970-378-1031 today to receive more information or contact your local Transnet Financial Group representative if you have additional questions.