Tax Guide

Get answers to all your questions about taxes, personal finance, insurance and more.

What are the 2017 tax penalty amounts?

There are two tax penalties for late tax returns: The failure-to-pay penalty is 0.5% of your unpaid taxes, and the failure-to-file penalty is 5% of your unpaid taxes.

These penalties are added each month after the April 15 due date. If you’re more than 60 days late, the minimum penalty is the smaller of $135 or 100% of the unpaid tax. To avoid a failure-to-file penalty, file by the April 15 due date or file for a six-month extension by the April 15 due date using IRS Form 4868. The extension will give you until October 15 to file your taxes.

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