![]() ![]() You can pay online or by mail with a check. For more information about the interest we charge on penalties, see Interest. Interest increases the amount you owe until you pay your balance in full. The date we begin to charge interest varies by the penalty type and amount. For details, see General Instructions for Certain Information Returns. There is no maximum penalty for intentional disregard. The maximum penalty is different for small businesses and large businesses including government entities. Charges for Each Information Return or Payee Statement Year Due We charge penalties for each information return you fail to correctly file on time and each payee statement you fail to provide. File a correct information return on time.We charge separate penalties for failing to: If the information is correct and you don't agree, you may be able to dispute the penalty.įor details, see Understanding Your IRS Notice or Letter. ![]() ![]() If you can correct an issue in the notice, there may be no penalty. The notice has information about the penalty, the reason for the charge and what to do next. On This PageĬheck that the information on the notice is correct. We mail you Notice 972CG if you owe a penalty and charge monthly interest until you pay the amount in full. An information return penalty may apply if you don't file information returns or provide payee statements on time. ![]()
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