For taxpayers who owe money, the consequences of a late filing can be costly, with steep monthly charges and daily interest ...

Second, refunds and abatement of late filing penalties only applies to certain ... The Kiplinger Tax Letter Editor, answers questions related to IRAs and other retirement accounts.

The Internal Revenue Service (IRS) penalties for late filing depend on whether you owe money or are expecting a refund. If you are in the latter case, there is no penalty, but you will receive the ...