Failure-to-File Penalty

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Definitions

Delinquent Return Tax Return IRS Penalties Failure-to-File Penalty Failure-to-Pay Penalty

A delinquent return is a tax return that is not filed within the time prescribed by the Internal Revenue Code (due date). It may be subject to penalties based on the unpaid tax liability.

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Definitions

Failure-to-File Penalty

Failure-to-File Penalty Tax Return IRS Penalty Late Filing Tax Compliance

The Failure-to-File Penalty is assessed on tax returns not filed by the due date, and it is typically a percentage of the tax that remains unpaid. This penalty aims to deter late filings and encourage timely compliance.