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previous pagePrevious Page: Instructions for Form 1040-A, U.S. Individual Income Tax Return - Tax Table
next pageNext Page: Instructions for Form 1040-A, U.S. Individual Income Tax Return - Refund Information
 Use previous pagenext page to find additional occurrences of topic items.Index for these Instructions
taxmap/instr/i1040a-025.htm#TXMP4e47f158

Interest and Penalties(p73)


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taxmap/instr/i1040a-025.htm#TXMP2f782821

What if you file or pay late?(p73)

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The IRS can charge you interest and penalties on the amount you owe.
If you file late, the penalty is usually 5% of the amount due for each month or part of a month your return is late, unless you have a reasonable explanation. If you do, attach it to your return. The penalty can be as much as 25% of the tax due (15% per month up to a maximum of 75% if the failure to file is fraudulent). We will charge you interest on the penalty from the due date of the return (including extensions). If your return is more than 60 days late, the minimum penalty will be $135 or the amount of any tax you owe, whichever is smaller.
If you pay your taxes late, the penalty is usually of 1% of the unpaid amount for each month or part of a month the tax is not paid. The penalty can be as much as 25% of the unpaid amount. It applies to any unpaid tax on the return.
taxmap/instr/i1040a-025.htm#TXMP123140d0

Are there other penalties?(p73)

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Yes. Other penalties can be imposed for negligence, substantial understatement of tax, reportable transaction understatements, filing an erroneous refund claim, and fraud. We will charge you interest on these penalties from the due date of the return (including extensions). Criminal penalties may be imposed for willful failure to file, tax evasion, or making a false statement. See Pub. 17 for details.
In addition to any other penalties, the law imposes a penalty of $5,000 for filing a frivolous return. A frivolous return is one that does not contain information needed to figure the correct tax or shows a substantially incorrect tax, because you take a frivolous position or desire to delay or interfere with the tax laws. This includes altering or striking out the preprinted language above the space where you sign. For a list of positions identified as frivolous, see Notice 2008-14, 2008-4 I.R.B. 310, available at www.irs.gov/irb/2008-04_IRB/ar12.html.
previous pagePrevious Page: Instructions for Form 1040-A, U.S. Individual Income Tax Return - Tax Table
next pageNext Page: Instructions for Form 1040-A, U.S. Individual Income Tax Return - Refund Information
 Use previous pagenext page to find additional occurrences of topic items.Index for these Instructions