According to the IRS, taxpayers have until Wednesday, June 14 to pay any taxes owed in order to avoid a larger late-filing penalty.
Typically, the late-filing penalty for each month – or part of a month that a return is late – is 5% of unpaid taxes, up to a minimum of 25%. The late filing penalty only stops when the taxpayer files. But, by law, if a return is more than 60 days late, the minimum late-filing penalty, as known as a Failure to File penalty, is either $435 or 100% of the unpaid tax, whichever is less.
The IRS deadline for receiving the returns to avoid the higher penalty is June 14. The fasted and easiest way to do this is to use
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