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The penalty charge is: 5% of the tax due for each month (or part of a month) the return is late, up to a maximum of 25% If your return is more than 60 days late, your minimum penalty is the lesser of $100 or the total amount due on the return.

Filing after the deadline If you fail to file a state income tax return by the due date, it's still better to file late than to not file at all. Generally, the penalties charged on the tax you owe increase over time, but you can minimize them by filing your state return as soon as possible.

The IRS will work with you. The penalty for filing late is normally 5 percent of the unpaid taxes for each month or part of a month that a tax return is late. ... If you file your return more than 60 days after the due date or extended due date, the minimum penalty is the smaller of $135 or 100 percent of the unpaid tax.

So late filing penalties are much higher than late payment penalties. The IRS will not put you in jail for not being able to pay your taxes if you file your return. ... Tax Evasion: Any action taken to evade the assessment of a tax, such as filing a fraudulent return, can land you in prison for 5 years.

If you have a refund coming from the IRS as about three out of four taxpayers do every year then there is no penalty for failing to file your tax return by the deadline, even if you don't ask for an extension. ... Some tax elections must be made by the due date, even if you have a refund coming.

If you missed the tax deadline but are due a refund there is no penalty. ... If owe taxes and missed the deadline, there's good news and bad news. Bad news: You can't file an extension at this point. More bad news: you will be charged failure-to-file and failure-to-pay penalties for missing the deadline.

The late filing penalty is 5% of the additional taxes owed amount for every month (or fraction thereof) your return is late, up to a maximum of 25%. If you file more than 60 days after the due date, the minimum penalty is $205 or 100% of your unpaid tax, whichever is less.

The late filing penalty is 5% of the additional taxes owed amount for every month (or fraction thereof) your return is late, up to a maximum of 25%. If you file more than 60 days after the due date, the minimum penalty is $205 or 100% of your unpaid tax, whichever is less.

You are supposed to pay the money owed for income taxes at the time you file your taxes. If you can't afford to pay them you have a problem. Most states charge you a late payment penalty, and all of them charge interest on the debt.

If you miss the filing deadline, and fail to file an extension, prepare to pay a hefty penalty for late taxes. The failure to file penalty applies to any tax that is unpaid as of the filing date. The penalty is charged at 5 percent for each month or partial month that your tax return is late.

Generally, you must file a New York State income tax return if you're a New York State resident and are required to file a federal return. You may also have to file a New York State return if you're a nonresident of New York and you have income from New York State sources.

New York Income Tax Deductions New York offers a standard deduction ranging from $3,000 for single individuals to $15,000 for married filing jointly.

Filing state income taxes requires a separate return If your state requires that you file state income taxes, you'll have to do it separately from your federal income tax return. ... Also, because the IRS doesn't process your state tax return, it can't help you if you have any questions.

New York, for instance, requires that anyone who comes for business must file a nonresident return for income earned from day one. But those travelers' employers are only required to start withholding New York tax if they work in the state for at least 14 days.

If a state determines you owe sales taxes and you don't respond or can't pay, tax authorities can take assets or put liens on them, potentially damaging your credit. So don't ignore notices; even if you can't pay in full, you might be able to set up a payment plan over time.