What if I am late in filing my tax return with the City? If you forget or fail to file a tax return, a reminder, in the form of a Non-filing Notice, will be sent around the 15th of the month. Are there any penalties for filing a tax return late?
Penalties are assessed for filing tax returns late. The penalties increase when the delinquency extends for additional months. Also there is interest and a late payment penalty for late payment of the tax even though the return may have been filed on time. Penalties and interest are computed as a percentage of the tax due for the period covered by the return. If a tax return is not filed on time, a 5% late filing penalty, for every month delinquent is assessed. Tax due and not paid timely is assessed a 10% late payment penalty. These two penalties combined are limited to 25%. Interest is computed at the rate in effect for the Arizona Department of Revenue.
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