When is the Best Time to File Your Tax Returns

If the IRS receives your tax returns after the deadline, then it will definitely bill you extra under a late-filing penalty. They will add an extra 5% to your tax which extends for the next five months.

Penalty for Failure to File Taxes

Penalties are calculated automatically by the IRS and added to any tax owed. The IRS will send you a notice detailing the amount of the penalty and the reason for it.

What Is IRS Form 1099-DIV – Dividends and Distributions?

A 1099-DIV tax form serves as a record that a company or other financial entity paid dividends to investors. An investor can receive Form 1099-DIV from banks and financial institutions if they earned more than $10 in dividends on your investments.