Indiana DOR Issues Information on Penalties for Late Payment of Individual Income Taxes

The Indiana Department of Revenue (DOR) March 30 issued information on the penalties applicable to late payments of individual income taxes. The information includes that the penalty for: 1) underpayment of estimated tax is 10 percent of the underpayment for that period; 2) failure to pay tax is 10 percent of the unpaid tax liability or $5, whichever is greater; 3) failure to file a tax return is 20 percent, unless the failure to file is a fraudulent intent to evade tax, then it is 100 percent; 4) failure to file an information return is $10 for each failure to ...