Penalties for late income tax payment

INDIANA – The deadline to file your Indiana Individual income taxes is Monday, April 15. If you need more time, you can request an extension of time to file. Otherwise, if you don’t file or pay any taxes owed by this deadline, fees and penalties may be charged.

File and pay your state and federal tax returns by Monday, April 15, 2024.

Tax penalties

Failure to pay tax: 10% of the unpaid tax liability or $5.00, whichever is greater. Penalty is imposed on payments that are required to be remitted electronically but are not.

Failure to file a state tax return (preparation by DOR): 20% of the unpaid tax liability. This penalty is imposed only if you do not file a tax return within 30 days of department notification of an unfiled return and, as a result, DOR files a tax return for you. 

Failure to file a state tax return; with fraudulent intent to evade tax; filing a fraudulent return: 100% penalty (not $100 as mentioned in the previous incorrect newsletter)

Faulty payment (e.g., bad check): Flat fee of $35.00

Failure to file an information return: $10.00 penalty for each failure to timely file, up to $25,000 per calendar year. Penalty is also imposed if the information return is required to be filed electronically but is not.

Underpayment of estimated tax: 10% of the underpayment for that period.

Find more information on tax penalties.