What are the penalties for US taxpayers who failure-to-file and failure-to-pay US taxes?
According to the US tax law, the penalties for failure to file US tax return in time is as follows:
(1) If it is the general case:
Penalty=5% * Tax Due * Months Delayed
Maximum Penalty= 25% * Tax Due
(2) If it is a fraud :
Penalty=15% * Tax Due * Months Delayed
Maximum Penalty= 75% * Tax Due
In addition, the Penalty for failure to pay US tax in time is as follows:
Penalty=0.5% * Tax Due * Months Delayed
Maximum Penalty= 25% * Tax Due
The USCPA Sophie Luo (羅霞) reminds you that the US tax filing deadline is April 15th and the US tax return deadline for American Expats is June 15th. Please file tax in time to avoid penalty!
If you have any questions or need further help,
please contact us at the USCPA Sophie Luo (羅霞) +886 4 22520309
or Email: ustaxproservice@gmail.com
Also welcome to visit our website: https://www.ustaxproservice.com
(USTAX Service LLC)