CPA Exam Forum › FAR › FAR Review › REG – Penalties This topic contains 1 reply, has 1 voice, and was last updated by Soproudofmyself 5 years, 8 months ago. Viewing 2 posts - 1 through 2 (of 2 total) Author Posts February 4, 2012 at 1:54 am #165827 SoproudofmyselfParticipant What's the penalty for failure to make estimated income tax payments? My book doesn't specify the fee… February 4, 2012 at 2:25 am #322335 SoproudofmyselfParticipant 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 Posts Viewing 2 posts - 1 through 2 (of 2 total) You must be logged in to reply to this topic.