http://www.washingtonpost.com/business/2024/02/23/irs-underpayment-penalty-pay-on-time/ Why should you pay the IRS on time? The underpayment penalty is 8%. Interest is compounded daily. Don’t let your tax bill snowball. Advice by Michelle Singletary, Columnist February 23, 2024 at 7:00 a.m. EST With tax season in full swing, there’s one thing to remember: If you owe the IRS, the interest is hefty. … Continue reading Why pay the IRS on time? Underpayments cost 8% penalty (compounded) →