You know, don't push the button, don't push the button, don't push the button, and then some socko finish. I was pleasantly surprised by how the book bobs and weaves and is a lot more active and entertaining that just that. MILD SPOILER, so don't tell your four year old.
The late payment penalty applies to any portion of your federal tax that remains unpaid as of the due date, typically the tax filing date. The IRS imposes a failure-to-pay penalty of one half of one percent for each month or part of a month that the tax goes unpaid.
Your estate will have to pay federal estate taxes if its net value when you die is more than the exempt amount set by Congress at that time. In 2011 and 2012, the federal exemption is $5 million (adjusted for inflation in 2012) and the tax rate is 35%.our estate will have to pay federal estate taxes if its net value when you die is more than the exempt amount set by Congress at that time. In 2011 and 2012, the federal exemption is $5 million (adjusted for inflation in 2012) and the tax rate is 35%.