The IRS says the typical late-payment penalty is 0.5% per month, and will not exceed 25% of unpaid taxes. The interest rate on late payments is adjusted quarterly, and is currently 4% per year ...

You can apply online, and if you can show "reasonable cause" for late or partial payments, you might avoid some penalties. The main thing is to communicate with the IRS early, so you stay in good ...

This is in addition to a 0.5% monthly penalty for late payment. Together, you could face a surcharge of up to 25% of the total if the delay is prolonged. In addition to penalties, the IRS charges ...

Even with an extension, taxpayers must estimate and pay at least 90% of their tax liability by April 15 to minimize penalties. Possible penalties include: Late payment penalties of 0.5% monthly of ...

Here's what to expect if you are overdue to file a return or pay taxes: There are monetary penalties, including failure-to-file and late-payment penalties. The failure-to-file penalty applies if ...

For those who missed the April 15 deadline, they will face monetary penalties, including failure-to-file and late-payment penalties. The failure-to-file penalty applies if the taxpayer doesn't ...

Although interest and late payment penalties continue to accrue on unpaid taxes after April 15, the late payment penalty is cut in half while the payment agreement is in effect.