AZ Amnesty for Penalties and Interest Expires November 2

The Arizona Tax Recovery Program began this month and will soon end on November 2, 2015. It’s the creation of Senate Bill 1471, passed earlier this year. All taxpayers who meet the application requirements will be eligible to have the … read more

AZ Releases New Form 290 Request for Penalty Abatement

Often penalties are assessed by a taxing agency and the taxpayer has grounds for asking the government to forgive the penalties based on “reasonable cause”. Some typical reasonable cause requests for penalty reduction or “abatement” are serious illness or death … read more

Tax Treatment of Business Loan Prepayment Penalties

If you’re a business owner and you have a mortgage loan on some real estate, and find yourself in a situation where you have the desire and wherewithal to pay off the loan early, how do you treat any prepayment … read more

Digging Deeper into Scary Headlines: Tax Penalties Don’t Correlate to Income Levels

I recently read a scary headline to an article. It was something along the lines of “tax penalties do not correlate to income levels”. This intrigued me, so of course, I dug a little deeper. The article was referring to … read more

Eight Facts on Late Filing and Late Payment Penalties

April 15 is the annual deadline for most people to file their federal income tax return and pay any taxes they owe. By law, the IRS may assess penalties to taxpayers for both failing to file a tax return and … read more

Income Tax Deadbeats of the Rich and Famous

Are you like me and enjoy hearing stories of the income tax problems of the Rich & Famous?  My enjoyment comes from knowing no matter who you are or how much you make; a celebrity still has to pay their … read more

Celebrity Tax Issues

What is it about fabulously wealthy celebrities and their tax scandals?  Is it that their advisers are reckless?  Or, are rich celebrities seeking out advisers who are aggressive and willing to play fast and loose with tax law and their client’s … read more

Antrel Rolle vs. the IRS

No offense to Adrian Wilson, but my favorite Arizona Cardinal defensive player the last few years was Antrel Rolle. I fell in love with him (NFL speaking) in 2007 during the Bengal game when he had 3 interceptions for touchdowns. … read more

The September 23rd Deadline – Time is Running Out

Do you have a signature authority on a foreign bank account? Do you have a direct or indirect interest in a foreign bank account?  If you answered yes to either of these questions, but have not disclosed your foreign bank … read more


There is nothing more complex than the world of taxes. We know this and yet we chose careers where we face these issues everyday. We get questions day in and day out about new tax laws, forms and news items and how they affect everyday people and businesses. Well, here at Henry & Horne we have set out to do what we do best; help everyday people understand what is going on in the world of state, local, federal, estate and international taxation. We will provide these weekly posts and we encourage you to give us feedback on those posts as well as letting us know what else you would like to know more about. Welcome to "Tax Insights." We hope you find this blog informative and worthy of your time.

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