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Late Payment Penalties

Many people struggle to pay all of their taxes on time each year, but making late payments can be detrimental. The IRS can take action against late payers, and those who make late payments might face financial penalties and high interest that could present them with greater financial challenges than they burdened with originally. Facing an IRS action can be daunting and you might want legal help when you’re in such a situation.

If you or someone you know needs help with taxes or is fighting against an IRS action, contact the experienced tax relief attorneys of the Tax Relief Law Center today by completing our contact form at the top of this page.

Possible Penalties for Late Payments

The IRS has many kinds of penalties it can try to enforce on taxpayers if they make late payments. For instance, according to the IRS, a late payment may result in:

  • The IRS demanding proof of a reasonable cause for late payment
  • A late payment fee of 0.5% owed for each month that your taxes remain unpaid
  • The possibility of another financial penalty in addition to the 0.5% penalty, if you owe taxes to the IRS in addition to making a late payment (generally a 4.5% additional penalty)
  • A total late payment penalty of 47.5% of the tax owed to the IRS

As you can see, the amount of late payment penalties can be financially draining. A skilled and committed attorney can help you to avoid falling under the full weight of the IRS.

Contact Us

Do not hesitate to seek help if you have been targeted by the IRS for late payment of your taxes. Contact the experienced tax relief lawyers of the Tax Relief Law Center today by filling out our simple contact form.