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1 The late filing penalty is 5% of the additional taxes owed amount for every month (or fraction thereof) your return is late, up to a maximum of 25%. 2  If you file more than 60 days after the due date, the minimum penalty is $135 or 100% of your unpaid tax, whichever is smaller. If you file more than 60 days after the due date, the minimum penalty is $135 or 100% of your unpaid tax, whichever is smaller. 2  Tip: The late filing penalty can be 10 times higher than the late payment penalty.
Multiply the total penalty percentage by the amount of tax due. If you are three months late and you owe $2,000 to the IRS, your penalty will be $300 (15 percent x $2,000). If your return is more than 60 days late your minimum penalty will be $135 or 100 percent of the tax due, whichever is smaller. Calculate the interest.