Penalties And Interest Paid To The IRS
The total penalty for the failure to file your income tax return and for failing to pay your taxes can be 47.5% (22.5% late filing, 25% late payment) of the tax owed. On top of penalties, there’s interest charges.
Interest charges for filing and paying taxes late
Interest is compounded daily and charged on any unpaid tax from the due date of the return (without regard to any extension of time to file) until the date of payment.
The interest rate is the federal short-term rate plus 3 percent. T
Back few years ago I had a lot of credit card debt. In fact it was starting to put a real dent in my finances, at one point I was literly living paycheck to paycheck which were some really scary times my wife and I.
The Department of Economic Development is pleased to announce the launch of its 2012 Visitor Guide.