' My dog ate it ' and other fiscal Excuses

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There are many tax excuses, but some do not work. The IRS must be tired of hearing them, instruct some tax forms for this year to wait before taxpayers penalty notices each apologies.

For many years you had to a ' reasonable cause "explanation generally attach to a late return when you posted. Now, no matter how late you are, the IRS says you should not add an explanation when you file. Earlier, you must wait to see if you get a fine post. If you do this, you can make your dog-ate-my-homework offering thanexcuse.

We're not talking about any kind of tax or any sanction. We are talking only about tax returns for partnerships and corporations. In both cases there are fines if you file late. The penalty is 5% of the net amount due for each month the return is late. The total penalty may not exceed 25%.

Starting with 2011 forms, tell the instructions you provide your written explanation if you only leave a message-submission or tax-payment penalties have received.?Add an explanation when Not the return is submitted. The IRS will determine if you meet the criteria of reasonable cause.

If you can your late show was due to reasonable cause and not due to deliberate neglect, no penalty.?Reasonable cause means exercise of ordinary business care and caution but you could still submit the return within the prescribed time.

There is also a penalty for not paying on time. Also, you will not be penalized if your failure is due to reasonable cause and not willful neglect. A failure to pay is due to reasonable cause considered you exercised ordinary business care and caution in providing for the payment of his tax liability and yet either wasn't able to pay the tax or an undue hardship would suffer if he paid on the due date.

What about individuals? Don't worry, you can still your explanations why you should not be penalized when you a personal income tax (one of the forms 1040) offer his submission.

For suggestions, see:

' Sick lawyer ' excuse not enough to escape IRS penalties

More tax defenses: ' I forgot! "

Tax Defense: "I have add"

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