Page 88 - Individual Forms & Instructions Guide

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The type and rule above prints on all proofs including departmental reproduction proofs. MUST be removed before printing.
answered on IRS.gov without visiting an Interest month or part of a month the tax isn't
IRS TAC. Go to IRS.gov/LetUsHelp for We will charge you interest on taxes not paid. The penalty can be as much as
the topics people ask about most. If you paid by their due date, even if an exten- 25% of the unpaid amount. It applies to
still need help, IRS TACs provide tax sion of time to file is granted. We will any unpaid tax on the return. This penal-
help when a tax issue can’t be handled also charge you interest on penalties im- ty is in addition to interest charges on
online or by phone. All TACs now pro- posed for failure to file, negligence, late payments.
vide service by appointment, so you’ll fraud, substantial or gross valuation mis- Frivolous return. In addition to any
know in advance that you can get the statements, substantial understatements other penalties, the law imposes a penal-
service you need without long wait of tax, and reportable transaction under- ty of $5,000 for filing a frivolous return.
times. Before you visit, go to IRS.gov/ statements. Interest is charged on the A frivolous return is one that doesn't
TACLocator to find the nearest TAC and penalty from the due date of the return contain information needed to figure the
to check hours, available services, and (including extensions). correct tax or shows a substantially in-
appointment options. Or, on the IRS2Go correct tax because you take a frivolous
app, under the Stay Connected tab, Penalties position or desire to delay or interfere
choose the Contact Us option and click Late filing. If you don’t file your return with the tax laws. This includes altering
on “Local Offices.” or striking out the preprinted language
by the due date (including extensions),
Interest and Penalties the penalty is usually 5% of the amount above the space where you sign. For a
list of positions identified as frivolous,
due for each month or part of a month
You don’t have to figure the amount of your return is late, unless you have a see Notice 2010-33, 2010-17 I.R.B. 609,
any interest or penalties you may owe. reasonable explanation. If you have a available at IRS.gov/irb/
We will send you a bill for any amount reasonable explanation for filing late, in- 2010-17_IRB#NOT-2010-33.
due. clude it with your return. The penalty Other. Other penalties can be imposed
If you choose to include interest or can be as much as 25% of the tax due. for, among other things, negligence,
penalties (other than the estimated tax The penalty is 15% per month, up to a substantial understatement of tax, re-
penalty) with your payment, identify and maximum of 75%, if the failure to file is portable transaction understatements, fil-
enter the amount in the bottom margin fraudulent. If your return is more than ing an erroneous refund claim, and
of Form 1040 or 1040-SR, page 2. Don’t 60 days late, the minimum penalty will fraud. Criminal penalties may be im-
include interest or penalties (other than be $450 or the amount of any tax you posed for willful failure to file, tax eva-
the estimated tax penalty) in the amount owe, whichever is smaller. sion, making a false statement, or identi-
you owe on line 37. For more informa- Late payment of tax. If you pay your ty theft. See Pub. 17 for details on some
1
tion on the estimated tax penalty, see taxes late, the penalty is usually /2 of of these penalties.
Line 38, earlier. 1% of the unpaid amount for each

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