FAQs on Payroll Forms

What is the Penalty for Failing to File Form 941?

A failure to file and pay required taxes by quarterly deadline results in a hefty penalty by the IRS. Late filing result in a 5% penalty each month the return is late but not exceeding 25%, If your payment is late or the full amount is unpaid, you will be charged 2 to 15% of the unpaid tax determined by the number of days it remains unpaid.

Last modified 18 Jul 2017 15:07 EST

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