Can’t Pay the IRS? File Anyway – Late Filing Costs 10 Times More a Month

Money Crashers ·
Personal finance

If you owe the IRS more than you can pay, file your return on time anyway. Filing late adds a penalty of 5% of the unpaid tax each month, while paying late adds 0.5%. Then apply online for an IRS payment plan and pay off the balance over time. Source

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