8 Tax Mistakes You Can’t Afford to Make: Annaly Capital Management, Inc. (NLY), American Capital Agency Corp. (AGNC)

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Recommendation: Even if you can’t pay, you should still file in order to avoid huge penalties.

The penalty for not filing is 10 times as much as the penalty for not paying on a filed return.

Bottom line: Even if you are in financial straits, save yourself some big money and prepare your return anyway.

The article 8 Tax Mistakes You Can’t Afford to Make originally appeared on Fool.com.

Fool contributor Dan Caplinger doesn’t own shares of the companies mentioned in this article. You can follow him on Twitter @DanCaplinger. The Motley Fool owns shares of Annaly Capital Management (NYSE:NLY). Motley Fool newsletter services have recommended buying shares of Annaly Capital Management.

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