Penalty for Failure to File a Tax Return by the Due Date<\/strong><\/p>\n The late filing penalty applies to any portion of tax that is unpaid as of the payment due date and the tax return is filed after the filing due date. The failure-to-file penalty is calculated based on the time from the deadline of your tax return (including extensions) to the date you actually file your tax return. The penalty is 5% for each month or part of a month that the tax return is late, up to a maximum penalty of 25%.<\/p>\n <\/p>\n If you’d like to avoid these penalties and the last minute stress, call Morey & Associates, CPA<\/strong> at 949-485-2011<\/strong>.\u00a0 We are a Certified Public Accountant<\/a> servicing Orange County residents and can file for an extension to acquire the proper time to file correctly.<\/p>\n Morey & Associates works with individuals, businesses, estates, non-profits and expatriates.\u00a0 We provide income tax compliance services for all types of individuals and organizations.<\/p>\n![\"Tax](\"http:\/\/cpamorey.com\/blog\/wp-content\/uploads\/2015\/04\/Tax-Penalty-Failure-to-File.png\")
<\/a>The late payment penalty applies to any portion of federal tax that is unpaid as of the payment due date. For each month or part of a month that the tax remains unpaid, the IRS imposes a failure-to-pay penalty of half of one percent (0.5%). The late payment penalty cannot exceed 25% of the net amount of the tax due. The IRS may waive the penalty if the taxpayer can show there was a reasonable cause for the late payment. (Internal Revenue Code section 6651.)<\/p>\n