I Asked ChatGPT Which Tax Moves Can Trigger IRS Penalties Years Later

Each year you file your taxes you hope that it’s done and dusted and you don’t have to think about that year’s taxes ever again. However, there are cases where the IRS can assess penalties and interest for tax mistakes years after a return is filed. To drill down into the most common tax moves that can trigger these penalties years later, I enlisted ChatGPT to help me dig up what you need to know about how the IRS can penalize you down the road, and how to avoid it. 1. Failure To File or Pay on Time On ...