What does “penalty” mean?

Q: What does “penalty” mean?

Extra charge for paying or filing late, or for a mistake. You can ask the IRS to remove a penalty if you had a good reason, or often if you had no penalties in the 3 years before (first-time abatement).

Extra charge for paying or filing late, or for a mistake.

What to do

You can ask the IRS to remove a penalty if you had a good reason, or often if you had no penalties in the 3 years before (first-time abatement).

You may see it in letters from

County Assessor / Tax Collector — Property tax office

“penalty” is a English word used in official letters in the United States. Briefly explains words like this automatically when you check a letter.

More office words

interest · installment agreement · levy · lien · garnishment · Collection Due Process · Notice of Deficiency · Taxpayer Advocate Service · all words