T he IRS imposes penalties for various reasons, including late filing, late payment, and inaccurate tax returns. These ...

Every year, many U.S. taxpayers face penalties for not filing their tax returns on time. This oversight can lead to financial ...

Taxpayers can also use the Electronic Federal Tax Payment System, a free service to pay by phone or online. To enroll, call (800) 555-4477 or visit eftps.gov. You can also use a debit or credit card, ...

Tuesday 15 April 2025 is the deadline for submitting tax returns to the IRS for most US taxpayers. Missing that date could be costly. Here’s a ...

IRS calculates interest on late tax payments daily using the federal rate plus 3%. Filing late incurs a 5% monthly penalty, while late payment has a 0.5% per month penalty. Penalties can ...