Reasons why IRS Penalties are levied
September 9th, 2008 | by admin |If you default on your tax payments, then the IRS has every right to levy penalties on you. The two main reasons why the IRS penalties are levied are if you have not paid the money by the due date or if you have paid a lesser sum than what was due to you. These are the two main reasons. Even if you put in an application earlier to grant you some more time for paying your IRS returns and the application was accepted, you will have to pay some interest on the amount that is due after the due date until you pay it.
