payroll taxes
What is the penalty for not turning in
payroll taxes on time?
Asked on 4/08/08, 2:45 pm
1 Answer from Attorneys
Ronald Cappuccio
Ronald J. Cappuccio, J.D., LL.M.(Tax)
Re: payroll taxes
The IRS has a 5% per month penalty (up to a total of 25%) for the failure to file a 941 tax return. You should always file timely even if you cannot pay the tax due.
I hope this helps!
Ron Cappuccio
http://www.taxesq.com
Answered on 4/08/08, 2:55 pm
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