Instructions For Form 1040 - U.s. Individual Income Tax Return - 2017 Page 95
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107 est or penalties (other than the estimated
Watching IRS videos. The IRS Video
Late payment of tax. If you pay your
tax penalty) in the amount you owe on
portal
IRSvideos.gov
contains video and
taxes late, the penalty is usually
of 1%
1 2
line 78.
audio presentations for individuals,
of the unpaid amount for each month or
Interest
small businesses, and tax professionals.
part of a month the tax isn't paid. The
penalty can be as much as 25% of the
Getting tax information in other lan-
We will charge you interest on taxes not
unpaid amount. It applies to any unpaid
guages. For taxpayers whose native
paid by their due date, even if an exten-
tax on the return. This penalty is in addi-
language isn't English, we have the fol-
sion of time to file is granted. We also
tion to interest charges on late payments.
lowing resources available. Taxpayers
will charge you interest on penalties im-
can find information on IRS.gov in the
Frivolous return. In addition to any
posed for failure to file, negligence,
following languages.
other penalties, the law imposes a penal-
fraud, substantial valuation misstate-
Spanish
(IRS.gov/Spanish).
ty of $5,000 for filing a frivolous return.
ments, substantial understatements of
Chinese
(IRS.gov/Chinese).
A frivolous return is one that doesn't
tax, and reportable transaction under-
Vietnamese
(IRS.gov/Vietnamese).
contain information needed to figure the
statements. Interest is charged on the
Korean
(IRS.gov/Korean).
correct tax or shows a substantially in-
penalty from the due date of the return
Russian
(IRS.gov/Russian).
correct tax because you take a frivolous
(including extensions).
position or desire to delay or interfere
The
IRS
TACs
provide
Penalties
with the tax laws. This includes altering
over-the-phone interpreter service in
or striking out the preprinted language
over 170 languages, and the service is
Late filing. If you don’t file your return
above the space where you sign. For a
available free to taxpayers.
by the due date (including extensions),
list of positions identified as frivolous,
the penalty is usually 5% of the amount
Interest and Penalties
see Notice 2010-33, 2010-17 I.R.B. 609,
due for each month or part of a month
available at
IRS.gov/irb/2010-17_IRB/
your return is late, unless you have a
You don’t have to figure the amount of
ar13.html.
reasonable explanation. If you do, in-
any interest or penalties you may owe.
Other. Other penalties can be imposed
clude it with your return. The penalty
Because figuring these amounts can be
for negligence, substantial understate-
can be as much as 25% of the tax due.
complicated, we will do it for you if you
ment of tax, reportable transaction un-
The penalty is 15% per month, up to a
want. We will send you a bill for any
derstatements, filing an erroneous re-
maximum of 75%, if the failure to file is
amount due.
fund
claim,
and
fraud.
Criminal
fraudulent. If your return is more than
If you include interest or penalties
penalties may be imposed for willful
60 days late, the minimum penalty will
(other than the estimated tax penalty)
failure to file, tax evasion, making a
be $210 or the amount of any tax you
with your payment, identify and enter
false statement, or identity theft. See
owe, whichever is smaller.
the amount in the bottom margin of
Pub. 17 for details on some of these pen-
Form 1040, page 2. Don’t include inter-
alties.
-95-
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