What is waiting costing me?
An IRS balance doesn't sit still. Penalties and interest are added every month until it's resolved.
$
A rough number is fine.
If nothing changes, in 12 months you could owe about
$0
That's $0 more than today.
$0in 3 months
$0in 6 months
$0in 2 years
Every day you wait adds about $0.00.
Where the growth comes from
Late payment penalty: 0.5% of the unpaid tax every month, up to 25%. It is cut in half while you're on an approved payment plan.
Interest: 7% a year (the IRS rate for ), added daily on the tax and the penalties.
Estimate only. It assumes the amount is tax only and the penalty clock is just starting. If you also didn't file on time, a separate filing penalty can add up to 25% more. Your real numbers are on your IRS account at irs.gov/account.