Tax Penalty
/ˈtæks ˈpɛnəlti/
Definitions
- (n.) A monetary charge imposed on a taxpayer for failure to comply with tax laws, such as late payment, underpayment, or nonfiling.
The taxpayer incurred a tax penalty for filing the return after the deadline.
Forms
- tax penalty
- tax penalties
Related terms
See also
Commentary
Tax penalties are distinct from taxes owed; they serve to enforce compliance and often accrue interest if unpaid.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.