If payment for the full amount of tax due is not sent with the tax return, a bill called a Notice of Tax Due and Demand for Payment is mailed to the taxpayer. The notice, or bill, includes unpaid taxes due, plus applicable penalties and interest. It is best to pay the amount due on the bill in full to help minimize the amount of penalties and interest charged. The interest rate a credit card issuer or bank charges may be lower than the combination of interest and penalties imposed by the Internal Revenue Code.

Answered by Admin - 7 months ago