What are the interest and penalty amounts for late filing or late payment?
Interest - If you owe taxes after April 15, 2025, Idaho State Tax Commission will charge interest on the amount of tax due. Interest is charged at 6% per year (0.5% per month).
Penalties - If you file your return after April 15, 2025, Idaho State Tax Commission will charge you a penalty if you:
- Don’t file a tax return on time (5%/month to a maximum of 25%).
- File a return on or after the original due date and pay tax due after you file (0.5%/month to a maximum of 25%).
- Don’t have a valid extension and don’t pay tax due by the original due date (2%/month from the original due date to the payment date).
The minimum penalty is $10.