Blog / Topic
IRS Penalties & Tax Debt
Underpayment penalties, IRS interest, underreported income, and what to do when tax debt is sent to collections.
- Filed a Tax Extension But Still Haven't Filed? What to Do Before October 15September 2026
Filed IRS Form 4868 back in April but still haven't filed your return? Here's what the October 15 extension deadline actually means, what penalties are already accruing, and the exact steps to catch up this week.
- Your Tax Debt Got Sent to Collections? What Freelancers Should Do Right NowAugust 2026
If the IRS or your state sent your unpaid tax debt to collections, here's exactly what happens next, what your notices mean, and the fastest way to stop it from getting worse.
- IRS or State Sent Your Business Tax Debt to Collections? Here's What to Do NowAugust 2026
A collections notice for unpaid business or payroll taxes can escalate fast — liens, levies, and personal liability for owners. Here's the exact process and how to respond immediately.
- IRS Underpayment Interest Rate Hits 7% in 2026: What It Actually Costs YouJuly 2026
The IRS underpayment interest rate rose to 7% on July 1, 2026, and it compounds daily. Here is how the rate is set, what it costs on a real shortfall, and how to stop it before September 15.
- Safe Harbor Rule Explained: How to Avoid the Underpayment Penalty Before September 15July 2026
You don't need to predict your exact tax bill to avoid a penalty. Learn the two safe harbor tests (90% of this year, or 100%/110% of last year) and how to check where you stand before the Q3 deadline.
- Missed a Quarterly Tax Payment? How Withholding Can Fix It Without Writing a CheckJuly 2026
The IRS treats withholding as paid evenly across the whole year, no matter when it happened. Here is how a W-2 job, a spouse's paycheck, or a year-end distribution can retroactively cover an underpaid quarter.
- What Happens If You Underreport 1099 Income? IRS Penalties Freelancers Should KnowJuly 2026
The IRS automatically matches every 1099 against your tax return. Here's how the underreporter (CP2000) process works, what the accuracy-related and civil fraud penalties actually cost, and how to fix an error before the IRS finds it.