If you owe federal income taxes but don’t have the money to pay the taxes you owe, the IRS may charge you penalties for unpaid taxes. Find out here in this video what the penalties are for failing to pay your taxes by the deadline.

Americans know they have to file and pay their tax returns by April 15th; however, sometimes difficulties arise and people cannot afford to make their full payments to the IRS. If you cannot pay all of the taxes you owe by the tax deadline, the IRS will charge you a failure-to-pay penalty that will start accruing the day after the deadline. You will be charged a .5% of your unpaid taxes for each month the tax remains unpaid, and this charge will begin on April 15th, even if you filed a timely extension or a late return.

We provide every client with the highest level of attention and representation. A skilled lawyer can help you through the process in a manner that wisely uses your time and resources. Our knowledgeable attorney can evaluate your circumstances and then inform you of your options.

For help with your tax problems and penalties for unpaid taxes;  a tax professional at the Sodowsky Law Firm in Northern Virginia can help. Call us for guidance at 703.476.1176.