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What is the late payment penalty if I do not pay any outstanding tax balance when I file my tax extension?

April 26, 2017Balance extension file late pay payment penalty tax

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What is the late payment penalty if I do not pay any outstanding tax balance when I file my tax extension?

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The Late payment penalty is usually 0.5% of the taxes not paid, per month. For example, if you have $2,000 of unpaid taxes, the IRS may charge you $10 per month as a late payment penalty.

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The late payment penalty is usually 0.5% of the taxes not paid, per month. For example, if you have $2,000 of unpaid taxes, the IRS may charge you $10 per month as a late payment penalty. Read more about penalties and interest.