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Frequently Asked Questions
Failure-to-pay penalty: If you don’t pay your tax bill when it’s due, the IRS will start charging you 0.5% of your unpaid taxes each month or fraction of a month that passes after the deadline, plus interest. If you owe both of these penalties in any given month, you will pay a maximum of 5% of your tax bill.When will they start accepting tax returns?
WASHINGTON ― The Internal Revenue Service announced that the nation's tax season will start on Friday, February 12, 2021, when the tax agency will begin accepting and processing 2020 tax year returns.When will I have all my tax documents?
The IRS requires all tax documents such as W-2s, 1098s and 1099s to be postmarked by January 31st of the new year. Depending on the mail service, you may not receive your documents until the first week of February.When is the deadline to submit taxes?
Tax season procrastinators, this is your last chance to sort out your returns and pay any taxes you might owe. April 18 is the deadline for most taxpayers across the U.S. to file their returns. Residents in Maine and Massachusetts have until April 19 because of Patriots Day.