| IRS announces the penalty for failure to file an Income Tax Return has Increased!
The IRS has announced that if a taxpayer has not filed their tax return by the due date (including extensions), then that taxpayer may have to pay a failure-to-file penalty.
For income tax returns required to be filed after 2008, the failure-to-file penalty for returns filed more than 60 days after the due date (including extensions) is increased. In this situation, the minimum penalty is the smaller of $135 or 100% of the unpaid tax.
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