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Paul Anderson CPA > San Diego Tax Updates  > Penalties of Submitting Your Taxes Late in California

Penalties of Submitting Your Taxes Late in California

Penalties of Submitting Your Taxes Late in California

What Do You Need to do to Avoid Penalties and Fees?

If you’re an individual tax filer, you must pay and file your taxes by April 15th, 2020. If you are not able to file your taxes by that date, you still MUST PAY your taxes by April 15th to avoid penalties of submitting your taxes late in California. Send your payment online via bank account, debit card, or with a payment plan on this page. Once you make your payment online or with the forms on this page for businesses, you are given an automatic six-month extension until October 15th to file your taxes. 

You can estimate your taxes due to the tax calculator

The easiest way to file your taxes is online is with CalFile. You can also use these other online options

When Do You Receive a Penalty Fee?

If you do not meet the following requirements, you will receive a penalty fee:

  • You do not file or pay your taxes on time (you must pay at least 90%)
  • You do not have enough funds withheld from your paycheck to pay your taxes
  • You do not pay your taxes electronically when you’re required to do so
  • You make a dishonored payment (bounced check or insufficient funds)

View the full list of fees and specific penalties for submitting your taxes late in California on the Penalty Reference Chart

The Penalties of Submitting Your Taxes Late in California

  • 5% of the total amount due for your taxes from the original due date of your tax return, OR after applying any payments made, on or before the original due date of your tax return, for each month unpaid.
  • 0.5% of the unpaid tax for each month or part of the month it is unpaid (not to exceed 40 months)
  • The maximum penalty is 25% of the amount due

For individuals with a tax return with a balance due of $540 or less, the penalty is:

  • $135

Or

  • 100% of the amount due (if your balance due is $134 or less)

Business owners can make sure they have the correct business filing date with this page. Check out this page for specific information about penalties for S corporations, partnerships, and LLCs filing late. 

The penalty for unpaid taxes for individuals is calculated from:

  • The due date of the estimated tax installment to the date your payment is received, or
  • The due date of the tax return

The penalty for unpaid taxes for businesses is calculated from the due date of the estimated tax installment to the earlier of either following dates:

  • The date your payment is received
  • The due date of your business return

For additional information on specific types of penalties of submitting your taxes late in California for individuals and businesses, visit this page

If you have any questions or concerns about the penalties given to you, this page gives information on what you can do. 

If you need any help with filing and paying your 2019 taxes, whether as an individual or business owner, contact the full-service tax preparation office of Paul Anderson. Here, you can receive expert guidance and tax-handling needs for tax preparation and planning, accounting and bookkeeping, and IRS taxation. Give us a call at (858) 433-7287, or schedule a consultation online

Source: https://www.ftb.ca.gov/

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