Taxpayer using calculator to budget and forecast late tax payment interest increases for 2018, and penalties for failing to file and paying late.

Tax Day Approaches: The Cost of Filing Late and Owing the IRS Money

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Owe the IRS money? As Tax Day rapidly approaches, it’s been announced that for the second quarter of 2018, taxpayers and corporations will be charged a higher interest rate in addition to the penalties charged for failure-to-file and late payments. Here’s what you need to know: Increased Interest Rates The IRS interest rates are determined…

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