If you haven’t filed your 2010 return yet—and didn’t request an extension—you’re only making matters worse by dawdling if you owe tax.
The IRS will assess both a “failure to file” penalty (5% of the unpaid balance per month up to a maximum of 25% of the unpaid balance) and a “failure to pay” penalty (0.5% of the unpaid balance per month for as long as you owe).
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