How to Calculate Interest Rate and Penalties on Late Taxes -- The Motley Fool
If you pay your taxes late, the IRS can charge you interest on the unpaid balance, as well as assess a penalty based on how late you are. The exact amount you'll have to pay depends on a few factors, such as whether or not you filed your tax return on time, how much you still owe, and what the current interest rate is. While the IRS treats each late payment on a case-by-case basis, here's how you can get a good idea of what you'll owe in interest and penalties.
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