Small Business Retirement Plan Penalty

If you are a small business with a retirement plan, here are a few tips you should check out:

1. Plan administrators and sponsors who fail to file the required forms can face up to $15,000 in penalties per return.
2. There is a special penalty relief program with the IRS that late-filers can apply for as long as the late returns were filed before June 2.

If you are facing a tax problem, contact our office at www.Hoorfarlaw.com or 816-524-4949.