Q:

Does the IRS have an online tax penalty calculator?

A:

Quick Answer

The Internal Revenue Service does not have an online tax penalty calculator. However, the agency's official website lays out guidelines individuals can use to calculate penalties that accrue from filing or paying taxes late, according to the Internal Revenue Service.

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Full Answer

Failure-to-pay penalties apply to individuals who fail to file or pay federal tax returns by the time the annual deadline passes, states the Internal Revenue Service. Individuals who fail to file taxes by April 15th attract a penalty of 5 percent of the unpaid taxes. This penalty accrues each month after the annual filing deadline. Failure to pay taxes on time attracts a penalty of 0.5 or 1 percent of the unpaid taxes, as of 2015. The penalty charged for failing to file and pay taxes does not exceed 5 percent of the unpaid taxes.

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