Past due taxes can accumulate significant penalties and interest. The IRS may impose a failure to pay penalty of 0.5% of the unpaid balance per month, up to a maximum of 25%. If you also fail to file on time, an additional 5% per month failure to file penalty applies, likewise capped at 25%. Combined, these penalties can reach 5% per month. Addressing past due taxes promptly is the most effective way to minimize further penalties and interest.
Easy Tax Service in Prescott Valley can help if you need to file past due federal and state tax returns. Our tax preparers have over fifty years of combined experience preparing taxes. Easy Tax Service is open year-round and committed to providing high-quality tax preparation service.
Please give us a call at 928-775-7000 to schedule an appointment today.