Those who do not pay the full amount due on or before April 17, 2007 will be charged interest on the unpaid balance and a late payment penalty. Those who do not file for an extension, or file late are also charged a substantial late filing penalty.
* Interest will be assessed at a rate of 12 percent per year from April 17, 2007 until the date of payment. Interest accrues regardless of an approved extension request.
* An additional late payment penalty will be assessed at a rate of 1/2 of 1 percent per month on the total tax due if not paid by April 17, 2007.
* If a return is filed late without an approved extension, a late filing penalty will be charged at a rate of 5% per month on the total tax due as shown on the return.