sjrcpa
Level 15
03-27-2025
03:17 PM
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Filing an extension but not paying the tax due will avoid the late filing penalty. But tehre will be a late payment penalty, plus interest.
IRS changes, or can change, the interest rates quarterly, but the calculations are done with daily compounding.
Interest is charged on the penalty owed, too.
The more I know the more I don’t know.