During any month in which both the failure-to-file and failure-to-pay penalties apply, both penalties must be paid in full.

Name: During any month in which both the failure-to-file and failure-to-pay penalties apply, both penalties must be paid in full.
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Question

Quizplus · Accepted Answer

The IRS generally reduces the failure-to-file penalty by the amount of the failure-to-pay penalty for any month where both penalties apply, so they are not both paid in full.

During Any Month in Which Both the Failure-To-File and Failure-To-Pay