
File Even If You Can't Pay: How IRS Late Penalties Stack to 47.5% of What You Owe
IRS failure-to-file costs 5% a month vs 0.5% for failure-to-pay under Section 6651, stacking to 47.5% — file on time, then request first-time abatement.
#tax-deadlines
Important tax filing deadlines and compliance dates to remember

IRS failure-to-file costs 5% a month vs 0.5% for failure-to-pay under Section 6651, stacking to 47.5% — file on time, then request first-time abatement.

Unclaimed tax refunds become Treasury property 3 years after the return's due date — 2023 money expires April 15, 2027. File now.

US companies can reclaim EU VAT on hotels, conferences, and trade shows under the 13th Directive — if reciprocity holds and you beat the June 30 deadline.

October 15 is the extended Form 5500 deadline — miss it and penalties run $250/day IRS plus up to $2,739/day DOL, unless you file under the DFVCP.

Ten IRS-smart moves before December 31: place equipment in service, max out 401(k)s, bunch charitable gifts, and prep 1099s under the new $2,000 rule.

The IRS still-working exception lets non-5% owners delay 401(k) RMDs past 73 until retirement — but only from a current employer plan that allows it.

Greece taxes freelancers on imputed income of 12,320 euros for 2026 — and B2B e-invoicing via myDATA is mandatory from October 1.

Saint Lucia waives 100% of penalties and interest on tax arrears through 2025 if you pay the principal by December 2027. File first, then settle.

Seattle, Washington's 2026 B&O tax starts at $2 million, but $0 returns are still due; out-of-city sellers at or below $4,000 need no license.

Bahrain's 15% DMTT now binds MNE groups over EUR 750M: US-parented groups with a Bahrain entity must register or risk BHD 100,000 fines and evasion charges.

Most US employers file Form 941 quarterly plus Form 940 once a year; Form 944 is annual only if the IRS notifies you in writing. Fix errors with Form 941-X.

Honduras waives penalties on tax arrears through 2025 if paid by October 12, 2026 — and extends RIT duty-free imports five years for exporters.