The IRS imposes penalties and interest when taxpayers fail to meet their tax obligations. These charges are a way to encourage compliance and are applied for various reasons, including:
Interest accrues on any unpaid tax from the due date of the return until the balance is paid in full.
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Jan 21, 2021There is a failure to file penalty (also known as the late filing penalty) for taxpayers who file after the April 15 deadline. However, this only affects those who owe the IRS taxes. If you have a refund, you are not subject to any penalties. You are subject to: 5% of unpaid tax per month […]
adminNov 2, 2020If you have an outstanding tax due to the IRS, here’s how to pay. You can pay your taxes online to the IRS going back to tax year 2000 for your Form 1040, 1040A, or 1040EZ. Keep in mind, there may be fees to using your debit or credit card. Click here to go to […]
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