Permalink Reply Quote. $18.53 per hour. But to get a true cost you need to factor in the cost of your benifits the company pays for. In our local it is about $6.50 per hour for healthcare, pention and all others. That would put my true rate at about $25 an hour.
If you file your returns 60 days late the penalty is either $135 or 100 percent of the tax owed, whichever is smaller. There are no penalties for taxpayers who file late but owe no tax or are owed a refund.
Normally the failure to file penalty is 5% and the failure to pay penalty is .5%, but the IRS reduces the failure to file penalty by .5% when these two are charged together. The maximum the combined penalty can be is 47.5% of the tax amount owed, as long as no tax fraud is involved.