[Soproudofmyself]

What’s the penalty for failure to make estimated income tax payments? My book doesn’t specify the fee…

[Soproudofmyself]

Another question…

Failure to file penalty – it says it's 5% of the “amount of tax due” for each month the return is not filed. What if you don't file your taxes and your withholdings were enough to cover your tax liability? What would they base the 5% on?

[Author]

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