Devil5052 wrote:(Beyond that, filing late is one of the worst things you can do, as far as IRS penalties are concerned. They assess a 5% per month (up to 25%) penalty on any amount you owe.......Just for filing late! (Late Filing Penalty) They even photocopy the Post Office cancellation stamp to show the date when it was received. This penalty is added onto any other penalties & interest.
(those figure were accurate as of when I used to work there.....about a million years ago!)
And what if they owe you?