A company represents a great fiscal responsibility and has rights and obligations, the sanctions can be produced in part by its mismanagement. It is increasingly common for businesses and companies with these responsibilities to have legal advisors. 

Regio Management offers fully professional and certified tax management and administration
with a highly trained team adapted to your needs. Knowing the most common sanctions will always help you stay away from them, so here are the most common sanctions for a company:

The IRS collects penalties for different reasons, for example:

• if you don’t file your tax return on time
• if you don’t pay the taxes you owe on time and in the right way
• if you do not prepare an accurate statement;
• if you do not provide accurate information statements

The IRS will send notices and letters about the sanctions that your business or company
has obtained, such as some of the following:
Penalty for Information Returns applies to taxpayers who do not properly file or provide
the required information return or statement to the beneficiary by the due date.
Penalty for not filing the tax return applies when you do not file your tax return by the due
date.

Penalty for not paying applies when you do not pay the taxes you owe before the due
date.
Accuracy penalty applies when you do not report all of your income or when you claim
deductions or credits for which you do not qualify. fine for non-compliance with deposit requirements applies when you do not pay your payroll taxes accurately or on time.

Tax preparer penalties apply to tax return preparers who engage in improper conduct.
Returned Check Penalty applies when the bank does not accept your check or other form
of payment.
Penalty to corporations for underpayment of estimated tax applies when you do not pay the estimated tax for a corporation accurately on time.
Individual Penalty for Underpayment of Estimated Tax applies when you do not pay estimated tax accurately or on time as an individual.

When obtaining any type of penalty, you can dispute it to eliminate it and reduce it by
showing a reasonable cause for which you could not comply with your tax obligations.
When the IRS imposes a penalty on you, it sends you a notice or letter in the mail. The
notice or letter will give you information about the penalty, the reason for the charge, and
what to do next. These notices and letters include an identification number.
If you have a fine, contact us and we will help you with what is necessary to request any
type of dispute.

Filing accurate returns, paying taxes before the due date, and filing any information
returns on time will keep you out of penalties and fines.
It should be noted that a declaration in zeros is also just as important as a millionaire
declaration.

Fines | Internal Revenue Service . (s.f.). Internal Revenue Service | An official website of
the United States government. https://www.irs.gov/es/payments/penalties