Unpaid Tax at 4/15/2019

The IRS and Georgia will punish you if you haven't paid in enough tax by the due date of the 2018 tax return. They will really punish you if there is unpaid tax and no tax return or extension filed. The IRS failure to file penalty is 5% of the unpaid taxes per month or part of a month up to a max of 25%. The Georgia failure to file penalty is the same. The IRS and Georgia late payment penalties are 1/2 of 1% per month or part of a month on any unpaid tax balance. The IRS annual interest rate on unpaid taxes is currently 6%. The Georgia interest rate is the federal reserve prime rate plus 3% (8.5%) and can be adjusted every January.