also expect to receive a bill from the IRS for late payment penalties and interest. this is also a bounced payment penalty
When a check or other commercial payment instrument the IRS receives for payment of taxes doesn't clear the bank, a penalty of 2 percent of the amount of the check or other commercial payment instrument generally applies. However, if the amount of the check or other commercial payment instrument is less than $1,250, the penalty is $25 or the amount of the check or other commercial payment instrument, whichever is less. Thus, if the amount of the check or other commercial payment instrument is between $25 and $1,250, the penalty is $25.
