Missed October 15? What the IRS charges now (late filing penalty)

Описание: The IRS late payment penalty is 0.5% a month and the late filing penalty is 5% a month. An extension to October 15 can spare you the filing penalty, but it never gives you more time to pay.

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This is for you if you extended and missed October 15, thought an extension also gave you more time to pay, or hold an IRS penalty notice you want removed.

Related:
The full breakdown, with sources: https://valim.tax/blog/irs-late-filin...
How to file a tax extension for free: https://valim.tax/tax-extension?utm_s...
Form 4868, explained: https://valim.tax/glossary/form-4868?...
Online tax preparation with a CPA: https://valim.tax/online-tax-preparat...

Chapters
00:00 Late filing vs late payment: the IRS penalties
00:24 Who this is for
00:35 Missed October 15? The late filing penalty
01:17 Extended but didn't pay? Late payment penalty
01:59 Got a penalty notice? First-time abatement
02:43 What to do now

Key facts
The late payment penalty is 0.5% of the unpaid tax for each month or part of a month, up to 25%. The late filing penalty is 5% a month, up to 25%. In a month when both apply, they total 5%.
An extension moves your filing date to October 15, not your payment date. Unpaid tax draws interest from April 15, now 7% a year, compounded daily.
A 2025 return filed more than 60 days late owes at least $525, or all the tax if less. With a valid extension, that applies to a return filed after December 14, 2026.
Pay at least 90% of your tax by April 15 and the rest with a return filed by October 15, and no late payment penalty applies for the extension months.
The IRS says that from summer 2026, it no longer charges these penalties to filers who filed and paid on time in the three prior years, starting with 2025 returns.

Sources
26 U.S.C. 6651, failure to file or pay tax: https://www.law.cornell.edu/uscode/te...
26 C.F.R. 301.6651-1, including the 90% rule for extensions: https://www.law.cornell.edu/cfr/text/...
IRS, Failure to file penalty: https://www.irs.gov/payments/failure-...
IRS, Failure to pay penalty: https://www.irs.gov/payments/failure-...
IRS, Form 4868 and its instructions: https://www.irs.gov/pub/irs-pdf/f4868...
IRS, automatic penalty relief (IR-2026-83): https://www.irs.gov/newsroom/irs-simp...
IRS, First-time abatement and automatic relief: https://www.irs.gov/payments/penalty-...
IRS, interest rates for the fourth quarter of 2026 (IR-2026-98): https://www.irs.gov/newsroom/interest...

General information, not tax advice for your situation.

#IRSPenalty #TaxExtension #LateFilingPenalty