What is the penalty for taxpayers who fail to pay their tax liability on a timely basis based on the taxes owing?
A)5% per month
B)2% per month
C)0.5% per month
D)$100 per month

Question

Quizplus · Accepted Answer

The penalty for taxpayers who fail to pay their tax liability on a timely basis based on the taxes owing is 2% per month. Therefore, the best answer choice is B. The other choices are incorrect because the penalty is not 5%, 0.5%, or a flat fee of $100 per month.

What Is the Penalty for Taxpayers Who Fail to Pay