You'll need to sign in or create an account to connect with an expert.
If you owe tax and both filed and paid late, but are less than 30 days late, the penalty is 5% of the amount you owed. The IRS will send you a bill. If this is the first time you have ever owed a penalty, you can request a waiver.
https://www.irs.gov/businesses/small-businesses-self-employed/penalty-relief
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
Edge10
Level 2
grover_sunil
New Member
LVTrader
New Member
relliott4224
Returning Member
Carijane
Level 1