Tax Facts

Tax Facts – Taxpayer Penalties

Taxpayers who do not meet their tax obligations may face penalty or interest charges. To avoid such charges, you should pay the full amount of tax you owe by the due date.

The main kinds of charges for failing to meet tax obligations are:

Solutions such as tax pooling can also be used to ease taxpayer concerns and the resulting exposure to use of money interest.

For more information about tax pooling and your exposure to tax penalties, give us a call. For more information about tax penalties refer to the IRD’s Obligations, Interest & Penalties Guide

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