Hi,
Here is an article regarding your question: https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-penalties/irs-penalty-miss-october-1...
The IRS applies late penalties and interest on a case-by-case basis and will send a separate bill if penalties apply. Because the IRS has the last word on penalties, we can't calculate the exact amount if your return is late. But the info below will give you an idea of what to expect in a worst-case scenario.
Interest (compounded daily) starts accumulating on unpaid taxes one day after the due date of the return, until the bill is fully paid off. The current interest rate is 6% and is subject to change.
Thank you,
John
CPA
