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IRS alerts taxpayers to $525 fines with interest if you miss this key 60-day rule

The IRS has warned taxpayers about a strict 60-day rule for filing taxes. People who file very late may face a minimum $525 penalty plus interest that keeps growing. The agency says filing and paying on time is the best way to avoid fines. Some penalties can be reduced only if taxpayers show a valid and genuine reason.

20 Feb 2026 5:46 pm