{"id":2398,"date":"2023-09-18T00:13:56","date_gmt":"2023-09-18T00:13:56","guid":{"rendered":"https:\/\/taxreliefprofessional.com\/?p=2398"},"modified":"2023-09-27T01:47:27","modified_gmt":"2023-09-27T01:47:27","slug":"the-penalties-of-paying-your-taxes-late","status":"publish","type":"post","link":"https:\/\/taxreliefprofessional.com\/tax-penalties\/the-penalties-of-paying-your-taxes-late","title":{"rendered":"The Penalties of Paying Your Taxes Late"},"content":{"rendered":"\n
Did you know that you can get penalties for paying your taxes late? Here’s everything you need to know about tax penalties and how to avoid them.<\/h6>\n\n\n\n

Problems that arise with taxpayers are so numerous that the IRS publishes a yearly Data Book<\/a>. Page 59 of the 2021 report shows the result of not filing taxes on time as a net assessment of $18,544,481 in taxes, penalties, and interest.<\/p>\n\n\n\n

That same year the IRS accepted 15,154 offers in compromise, filed 212,251 liens, made 96 seizures, and entered into 2,361,646 installment agreements. Paying your taxes late can result in harsh penalties, but there are ways to avoid them.<\/p>\n\n\n\n

Learn more about tax problems, penalties, and how to obtain relief in this guide.<\/p>\n\n\n\n

IRS Penalties<\/h2>\n\n\n\n

The IRS may assess a penalty<\/a> if you fail to meet your tax obligation. The kinds of taxes you owe may impact how severe that penalty is.<\/p>\n\n\n\n

The IRS will send a notification letter explaining the penalty amount and reason. IRS notices include the following:<\/p>\n\n\n\n