The penalty amounts to 5% of the taxes owed for each month that the filing is late, up to a maximum of 25%. Under such circumstances, the IRS mails a letter or notice alerting the filer of a late fee.

The pilot program, launched in 2024, allows millions of Americans to file their taxes directly through the IRS free of charge.

Tax season ends at midnight on Tuesday, April 15 – for most filers, at least. Up to one in three Americans waits until the last minute to file their taxes, according to a 2021 survey by IPX 1031.

What are the penalties for filing my taxes late? If a return is filed after April 15 without an approved extension and the taxpayer owes money, the failure-to-file penalty kicks in immediately.

The 2025 tax season deadline for Americans to file is April 15. Taxpayers who earned more than $5,000 on payment apps in 2024 will receive a new 1099-K form. The IRS began accepting tax filings in ...

If you don’t pay what you owe by your tax-filing deadline you will also be hit with a failure-to-pay penalty. That amounts to 0.5% of your outstanding balance every month or part of a month it ...