What is the pentalty fee for not paying taxes?

Question

I know that theris a 1% increase and a fee right ????

Answer 1

It is penalty, not pentalty.

Penalty for delinquent filing, 5% per month up to 25% reduced by 1/2% per month if late payment penalty is charged.

Penalty for late payment 1/2% of the tax per month up to 25%

reduced to 1/4% per month if an installment agreement is approved before a notice of intent to levy is issued , increased to 1% per month if a notice of intent to levy is issued.

Interest, rounded to the rate charged on 3 month US Treasury Notes.  Currently 6%, will be reduced to 5% July 1.

Answer 2

If you file and don't pay, it's the equivalen of 1% per month (.5% for the penalty and .5% for the interest).

If you don't file and don't pay it starts at 5% penalty per month plus interest.

If you get an installment agreement and then s***w is up, you are up to 17-18% as the penalty is 1% per month plus the interest.