Taxpayer Penalties

Violation	Section	Penalty
Failure to disclose foreign financial assets	6038D	$10,000 penalty (increased if failure continues after notification)
Failure to file return, Late filing penalty	6651(a)(1)	5% of unpaid balance for each month or part of a month the retu-
		rn is late.Maximum 25%.
Failure to pay tax, Late payment penalty	6651(a)(2)	0.5% of unpaid balance for each month or part of a month there
		is unpaid balance.Maximum 25%.
Fraudulant failure to file tax return	6651(f)	Section 6651(a)(1) penalty is replaced with 15% of tax per month
		not to exceed 75% of tax.