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.
In 2014, the penalty will be the greater of 1.0% of your taxable income or $95 per adult and $47.50 per child (up to $285 per family). In 2015, the penalty will be the greater of 2.0% of your taxable income or $325 per adult and $162.50 per child (up to $975 per family).