Filed Returns 1. Am I subject to interest or penalties if I don’t file my Montana income tax return by the due date?
• Late File Penalty—if you file your return after April 16, 2007, or October 15, 2007 if you have a valid extension, a late file penalty will be assessed if your combined total tax due is greater than your combined payments and offsets. The penalty is equal to the lesser of $50 or the amount of tax you owe. • Late Pay Penalty—If you have not paid 100% of your income tax liability by April 16, 2007, the late pay penalty is equal to 1.5% per month or fraction of a calendar month on the unpaid balance from April 16, 2007 until it is paid. • Interest—If you have not paid 100% of your income tax liability by April 16, 2007, you will have to pay 8% annual interest, computed daily on your unpaid balance. To calculate your interest, multiply the unpaid balance by .0002192 (.02192%) times the number of days after April 16, 2007 your payment is received. 2. Will I be penalized if I am due a refund, but my return is filed late? If you file a late return for which you are receiving a refund, you w
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