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Tax Penalties

You may face IRS and or state tax penalties if you file after the tax deadline, but you can reduce them the earlier you file! Even if you owe taxes, prepare and file or efile a return or extension even if you can't pay anything by the tax deadline! You will face lower potential IRS and/or state penalties as these accrue over time.

Since late filing penalties are generally higher than late payment penalties, we suggest that you prepare and file a tax return or tax extension by the tax deadline or as soon as possible even if you will owe the IRS. Use the Taxpert IRS Tax Penalty Calculator tool below to calculate any penalties or interest you might owe the IRS due to a missed deadline or late payment. Learn more about tax penalties and how they apply to you.

Penalty Calculator
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What Will I Owe the IRS?

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What Will I Owe the IRS?
Select Tax Year:
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Did you file a tax extension?
Taxes owed based on your tax return:
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Tax return filing date:
Date taxes paid:
Did you have an installment agreement?
When did the installment agreement begin?
Your estimated IRS payoff amount is: $0.00
Your Estimated IRS Penalty Details
Original tax amount owed:
Late filing penalty:
Late payment penalty:
Total penalty interest*
*Interest amount calculated using most current IRS data available, this value is subject to change.
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IRS Penalties

There are two types of tax penalties: filing late and paying late. IRS penalties only apply when you owe taxes; if you are owed a refund or do not owe any taxes, there is no penalty for filing late. File your returns as soon as possible if you owe taxes. At the very least, file or e-file a tax extension to reduce the late filing penalty as it is significantly higher than the late payment penalty. The penalty for not doing your taxes is typically around 5% of the tax you owe, increasing by 5% each month until reaching a maximum failure to file penalty of 25%. e-File your taxes in the year they are due so you never have to worry about accruing late penalties or filling out paper forms.

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