It started in 1997, when Alain de Botton turned away from writing novels and instead wrote a touching extended essay titled How Proust Can Change Your Life, which became an unlikely blockbuster in the self-helpcategory.
A sample penalty schedule might look like: 1  11 month CDs or shorter charge three monthsâ worth of interest. 2  12 to 59 month CDs charge six monthsâ worth of interest. 3  60 month or longer CDs charge 12 monthsâ worth of interest.
The late-payment penalty is one-half of one percent of the tax owed for each month it is unpaid. Every month you owe, the penalty amount increases by a half of a percent. So the first month the IRS will charge you a half percent of the tax due, the second month 1%, the third month 1.5%, etc.The late-payment penalty does max out at 25%. So if you have owed the IRS for more than 24 months, your late-filing penalty has hit its limit â 25% of the tax.(Note: the half percent rate increases to one percent (1%) if the IRS issues a final notice of intent to levy and the tax remains unpaid for 10 days thereafter.). 2. Not filing your return on time.very month you owe, the penalty amount increases by a half of a percent. So the first month the IRS will charge you a half percent of the tax due, the second month 1%, the third month 1.5%, etc. The late-payment penalty does max out at 25%.