If you miss this week’s tax filing deadline, you might be feeling anxious about getting hit with late-filing penalties by the ...

There is a penalty for filing taxes late. This fee can accrue for every month you fail to file, starting at 5% of the tax due. If the return is more than 60 days late, the minimum penalty is the ...

Matthew Roberts is a tax attorney who covers ... breadth of these information return reporting obligations. Each reporting obligation carries with it late-filing penalties, most of which are ...

which is 0.5% of the unpaid taxes. The late-filing penalty is 10 times the penalty for failing to pay on time. “Even if a taxpayer cannot pay, always file a return on time,” Scholl says.