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2 Bumps

How much intrest does the IRS charge??

My boyfriend had 1300 takin from his taxes last year for owing the IRS like feb/march of last year they sent him saying he owed 170 more...since he has not paid it would anyone know of an estimate it might be now??

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Anonymous

Asked by Anonymous at 3:44 PM on Feb. 9, 2011 in Money & Work

Answers (2)
  • The IRS charges penalties, and intrest. It is like at usary rates. If your boyfriend has to take out a small loan at the local bank, believe me it would be cheaper to pay back the bank than the IRS. Hey good luck!!!!
    SEEKEROFSHELLS

    Answer by SEEKEROFSHELLS at 4:00 PM on Feb. 9, 2011

  • Read the following:


    "There is a penalty for late filing of 5% of the tax not paid by the due date for each month, or part of a month, that your return is late. Generally, the maximum penalty is 25%. But if your return is more than 60 days late, the minimum penalty is $100 or the balance of the tax due on your return, whichever is smaller."

    musicmom08

    Answer by musicmom08 at 4:03 PM on Feb. 9, 2011

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