What are the penalties for filing taxes late?

In Washington, the penalties for filing taxes late are relatively straightforward and generally consistent with most other states in the US. If you file your taxes late, you will be subject to a 5% penalty for each month (or part of a month) that you are late. This penalty is capped at 25%. In addition to the late filing penalties, taxpayers who are required to make estimated tax payments will also be subject to a penalty of 0.5% for each month (or part of a month) that the payment is late. It should be noted that if you have a reasonable cause for filing late and can provide evidence to support your claim, the penalties may be waived in certain cases. However, it is important to note that even if the penalties are waived, you are still required to pay any taxes due by the original due date. In cases where taxpayers cannot pay the taxes they owe by the filing deadline, they should contact the Washington State Department of Revenue to see what options may be available. Payment plans may be an option for some taxpayers, depending on their specific situation.

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