Why Do I Owe an Underpayment Penalty?
We’ve all been around long enough to understand one of the key differences between businesses and government entities: Businesses have competitors. If a business treats you in a way that seems (or is) unfair, you usually have an option to “take your business elsewhere.” The government, on the other hand, doesn’t have to compete the way businesses do. Taking your business to another country is not always possible, and even if it is, it’s easier said than done. When it comes to the IRS in particular, even moving to a different country is no escape from US income taxes. Nothing…
