How About Avoiding IRS Penalties? Late Filing of Returns - Most taxpayers have to pay fines for filing in their returns late. Even a delay of one day after that would attract the IRS penalty for late filing. Late Tax Payment - Some taxpayers defer on paying the taxes even after they have filed their returns. Paying the dues late also attracts penalties. Penalties are quite high. You might end up paying 20% interest.
How About Avoiding IRS Penalties? Late Filing of Returns - Most taxpayers have to pay fines for filing in their returns late. Even a delay of one day after that would attract the IRS penalty for late filing. Late Tax Payment - Some taxpayers defer on paying the taxes even after they have filed their returns. Paying the dues late also attracts penalties. Penalties are quite high. You might end up paying 20% interest.
