Small business IRS fine goes up to $1 million

Nichols, Mike
January 2016
Grand Rapids Business Journal;1/4/2016, Vol. 34 Issue 1, p3
This article reports that the U.S. Internal Revenue Service has increased penalties for failure to file correct tax information beginning summer of 2016. Topics discussed include the increase in maximum penalties from 500,000 dollars to 1 million dollars for small businesses, comment from Kyle Janssens of Greatland Corporation on the Trade Preferences Extension Act, and how Greatland, a company that provides W-2 and 1099 reporting form services, helps businesses avoid penalties and fines.


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