The late payment penalty is based on the amount of tax owed and the number of days that the tax is not paid. The maximum amount of the penalty is unlimited.

Name: The late payment penalty is based on the amount of tax owed and the number of days that the tax is not paid. The maximum amount of the penalty is unlimited.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The late payment penalty is typically capped at a certain percentage of the tax owed, and it is not unlimited.

The Late Payment Penalty Is Based on the Amount of Tax