Editing Taxation in the United States (section)

====Failure to File Penalty====

This penalty is imposed on the individual who does not file the income tax return on the due date. In this case the fine is equivalent to 5% of the taxes that have not been paid each month, however, the ceiling is up to 25%. On the other hand, in case the penalty for not filing the return and the penalty for not paying the respective taxes are combined in the same month, the penalty for not filing is reduced by the amount of the penalty for not paying, resulting in a combined penalty of 5% for each month or part of the month that the return is late. After 5 months of non-payment of any amount, the non-filing penalty is reduced in full, however, the non-payment penalty is capped at 25%. Finally, in case the return has been filed more than 60 days late the charges can reach up to USD 485 after December 12, 2023.<ref name="IRS:4">{{cite web |title=Failure to File Penalty |url=https://www.irs.gov/payments/failure-to-file-penalty |website=Internal Revenue Service |publisher=IRS |access-date=25 April 2024}}</ref>