FILING YOUR TAX RETURN LATE AND WILL YOU PAY PENALTIES AND INTEREST? 

FILING YOUR TAX RETURN LATE AND WILL YOU PAY PENALTIES AND INTEREST?

Answer
If you owe tax, you usually will. However, you won’t pay a late taxes penalty or interest if you’re:

Receiving a refund
Outside the country while serving in the military
Living in a federally declared disaster area
If you have a balance due, the IRS can assess both of these:

Late-filing penalty — 5% of the balance due per month up to 25%
Late-payment penalty — 0.05% (or part of a month), up to 25% of the tax due
The IRS charges interest on unpaid tax from the return’s due date until the date of payment.

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NEED HELP WITH IRS BACK TAXES, AUDIT REPRESENTATION OR SMALL BUSINESS TAX PREPARATION?

ADVANCE TAX RELIEF LLC
http://www.advancetaxrelief.com
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