AmyC
Expert Alumni

After you file

There are different types of penalties and interest The IRS imposes penalties when you owe more than $1,000. The IRS considers owing $5,000 or more substantial and has higher penalties. You should have paid the amount throughout 2023 so that less than $1,000 was due by April 15. It isn't a matter of you paying a few days early, it is a matter of you paying months late.

 

Reference:

Information on Penalties

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