For taxpayers who owe money, the consequences of a late filing can be costly, with steep monthly charges and daily interest ...

Second, refunds and abatement of late filing penalties only applies to certain ... The Kiplinger Tax Letter Editor, answers questions related to IRAs and other retirement accounts.

While the IRS imposes penalties for unfiled taxes and delinquent filing, it's not too late to deal with the situation. Tax professionals emphasize that addressing it promptly can minimize ...

Taxpayers can use Form 843 to request an abatement, or reduction, of certain taxes, interest, penalties, and fees. Filing your taxes late isn't ideal but it isn't the end of the world. The most ...

The Internal Revenue Service (IRS) penalties for late filing depend on whether you owe money or are expecting a refund. If you are in the latter case, there is no penalty, but you will receive the ...

The IRS tax filing ... penalty is 5% of your unpaid taxes each passing month or partial month. Individuals will be notified by a notice or letter from the IRS. An additional penalty is the late ...