Penalties and Interest

Calendar Year Monthly Interest Rate Yearly Interest Rate
2015 and prior 1.5% 18.00%
2016 .42% 5.00%
2017 .50% 6.00%
2018 .50% 6.00%

Penalty 10% on past due tax. Late Filing Fee $25.00. Estimated Tax Penalty 1% per month on unpaid quarterly installment. Interest and Penalties
​ Effective 1-1-2016 Interest 5.0% per annum (0.42%) per month (Interest is based on the Federal rate and may change annually)  Late File Penalty $25.00 per month or fraction of a month with a maximum of $150.00 Late Payment Penalty/Withholding: 50% of the total tax due. Late Payment Penalty Individuals/Corporates/Partnerships 15% of tax due The interest rate for tax year 2017 is 6% per annum. The interest rate for tax year 2016 is 5% per annum. We accept all forms of payments: Cash, Money orders, Checks, Credit Cards (VISA, MASTERCARD, DISCOVER, AMERICAN EXPRESS)