For checks of $1,250 or more, the penalty is 2% of the check amount. For checks less than $1,250, the penalty is the lesser of $25 or the amount of the check.
The penalty is 15% of the amount of tax that should have been reported on the tax return and an additional 15% for each additional month or part of a month the taxpayer didn’t file a return. The penalty cannot exceed 75% of the tax unpaid. If you fail to report the federal change, you must pay a 5% penalty for each month the federal change is not reported to the Revenue Department. The penalty cannot exceed 25% of your additional tax. • Dishonored Check – A penalty is charged if a taxpayer’s check is returned because of insufficient funds. For checks of $1,250 or more, the penalty is 2% of the check amount. For checks less than $1,250, the penalty is the lesser of $25 or the amount of the check. • Paying Late – The penalty is ½% of the unpaid tax for each month or part of a month the tax is unpaid. If you do not file by the original due date, a late filing penalty of 5% of the unpaid tax is added for each month your tax return is late. This penalty cannot exceed 25% of your tax. The penalty for the late payment is 10% of the tax shown due and not paid by the original due date. Penalties. The penalty for failure to file a return is 10 percent of the tax amount that is due for each billing. An addi-tional 25 percent penalty applies if the failure to file was due to fraud or intent to evade the Sales and Use Tax Law or regulations. If you do not pay your tax or you pay an insufficient amount of tax through withholding, you might also have to pay estimated taxes. If you did not pay enough tax throughout the year, either through withholding or by making estimated tax payments, you may have to pay a penalty for underpayment of estimated tax.
http://blog.myirstaxrelief.com/2010/08/avoiding-irs-tax-penalties-tax-1.html http://www.dor.state.nc.us/taxes/individual/penalties.html http://blog.myirstaxrelief.com/2010/08/avoiding-irs-tax-penalties-tax-1.html http://www.dor.state.nc.us/taxes/individual/penalties.html http://www.boe.ca.gov/pdf/pub75.pdf https://www.irs.gov/taxtopics/tc306.html
how much is the penalty for insufficient funds for taxes