A Hidden Cost: Why Penalties Could Be Draining Your Wallet at Tax Time

08/04/2025 7 min Temporada 1 Episodio 78
A Hidden Cost: Why Penalties Could Be Draining Your Wallet at Tax Time

Listen "A Hidden Cost: Why Penalties Could Be Draining Your Wallet at Tax Time"

Episode Synopsis

The Internal Revenue Service (IRS) has clear guidelines regarding the deductibility of penalties. According to IRS rules, penalties paid to the government for violating laws are not deductible as business expenses or itemized deductions.