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Is penalty assessed for late returns?

assessed late penalty returns
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Is penalty assessed for late returns?

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A. Yes. A penalty of 5 percent of the tax due or $25, whichever is greater, is assessed for each tax type, not to exceed 25 percent of the tax due.

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. Yes. A penalty of 5 percent of the tax due or $25, whichever is greater, is assessed for each tax type, not to exceed 25 percent of the tax due.

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