Category: Penalties & Interest

The failure-to-file penalty is a charge the IRS imposes when you miss the due date, including extensions, for filing your federal tax return. Apart from the failure-to-pay penalty, this is among the priciest IRS fines. Usually 5% of the unpaid taxes for every month (or portion of a month) your return is late, this penalty […]

Even if you submitted your return on time, the IRS charges a failure-to-pay penalty if you don’t pay your taxes by the due date. This penalty is directly related to delinquent taxes and distinct from the failure-to-file penalty. Up to a maximum of 25% of the overdue amount, the penalty is 0.5% of the unpaid […]