Tax penalty
A fine charged by the IRS for paying taxes after the annual deadline or for filing a tax return late. In addition to the penalty, the IRS may charge interest on the amount of money due. Tax penalties and interest are not deductible.
A fine charged by the IRS for paying taxes after the annual deadline or for filing a tax return late. In addition to the penalty, the IRS may charge interest on the amount of money due. Tax penalties and interest are not deductible.