The National Weight Control Registry: Is it Usefu inl Helping Deal with Our Obesity Epidemic? james o. hill phd', holl; wyatty md', suzann; phelane phd^, ren; a wing,
Failure-to-File Penalty. Also known as the âlate filing penalty,â this fee may be assessed if you do not file your tax return (or tax extension application) by the proper due date. This deadline is April 15 for most individual taxpayers, and March 15 for most businesses.lso known as the âlate payment penalty,â this fee may be assessed if you do not pay your income tax liability by the proper due date. This deadline is April 15 for most individual taxpayers, and March 15 for most businesses.
Penalty for Failure to Pay Tax by the Due Date. The late payment penalty applies to any portion of federal tax that is unpaid as of the payment due date. For each month or part of a month that the tax remains unpaid, the IRS imposes a failure-to-pay penalty of half of one percent (0.5%).The late payment penalty cannot exceed 25% of the net amount of the tax due.The IRS may waive the penalty if the taxpayer can show there was a reasonable cause for the late payment. (Internal Revenue Code section 6651 .).he late payment penalty cannot exceed 25% of the net amount of the tax due. The IRS may waive the penalty if the taxpayer can show there was a reasonable cause for the late payment. (Internal Revenue Code section 6651 .).