Direct answer: Late fees (penalties) for taxes vary by jurisdiction and by whether you filed late, paid late, or both. Here are the common patterns you’ll typically encounter:
- United States (IRS)
- Late filing penalty: generally 5% of the unpaid tax for each month or part of a month the return is late, up to a maximum of 25%. If the return is more than 60 days late, the minimum penalty can be the lesser of $510 (for returns due in 2026) or the unpaid tax. This penalty is separate from any late payment penalties. [IRS guidance and related resources show these structures; exact amounts may adjust annually. See official IRS materials for current figures.]
- Late payment penalty: generally 0.5% of the unpaid tax for each month or part of a month the tax remains unpaid, up to 25%. If both penalties apply, the late filing penalty is usually reduced by the amount of the late payment penalty. Interest accrues daily on any unpaid balance. [IRS penalties and interest explanations apply here; amounts can change with annually updated rates.]
- If you file a return or extension late but owe no tax, penalties may be different or not apply, but other consequences can occur. Always check your specific notice from the IRS for exact amounts.
- United Kingdom (Self Assessment)
- Filing penalties apply if you miss deadlines, with escalating charges starting from a fixed penalty, then daily penalties, then increases at 6, 12, and 24 months depending on the lateness. The exact amounts depend on whether you filed on time and the length of the delay. [HMRC guidance on penalties for late Self Assessment returns provides the schedule.]
- India (ITR)
- Late filing fees (under Section 234F) apply if the return is filed after the due date. The typical fee is up to Rs 5,000 depending on income level and the date of filing; there is also interest for the delay in payment of any tax due. The exact figures can depend on the assessment year and income bracket. [Cleartax and other official-looking summaries reflect these thresholds.]
What to do now
- Identify your country and tax type (individual, business, etc.).
- Check the official tax authority site or your latest notice for the precise penalties applicable to your situation, since rates and minimums can change annually.
- If you’re late, consider filing as soon as possible to minimize penalties, and you may be able to request penalty relief or a payment plan in some jurisdictions.
If you share your country and whether you’re dealing with an extension, a late filing, or a late payment, the specific penalty formulas and current amounts can be narrowed down to provide exact figures.
