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Penalties and Interest for Individuals
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Filing and paying your taxes late costs you money. The Minnesota Department of Revenue may assess a penalty if you intentionally file a false or fraudulent return to claim a refundable credit. The penalty is equal to 50% of the fraudulently claimed refund plus 50% of any understated tax.
You may request an abatement (cancellation) of late-filing or late-payment penalties if you have a reasonable cause. For details, see Penalty Abatement for Individuals.
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Use this information to avoid costly penalties and interest.
| Type of Penalty |
How can I avoid this penalty? |
|---|
| Late filing |
File your returns by October 15. |
| Late payment |
- Pay your tax in full by April 15, even if you are not filing your return by April 15
- If you file your return by October 15, pay at least 90% of the tax by April 15, and pay the remaining tax when you file your return
|
| Underpayment of Estimated Tax |
Make quarterly estimated tax payments when required. For more information, see Estimated Tax for Individuals. |
| Extended Delinquency for Missing Returns |
If you receive a Request for Missing Return letter, respond as instructed within 30 days. |
| Late Payment for Tax Assessments |
If you receive a Tax Order letter, respond as instructed within 60 days. |
Penalty costs are determined based on the type of penalty.
| Type of penalty |
How much does this penalty cost? |
|---|
| Late Filing |
5% of tax not paid by October 15. |
| Late Payment |
- 4% of tax not paid by April 15
- An additional 5% of the tax not paid within 180 days after filing your return or April 15, whichever date is later
|
| Underpayment of Estimated Tax |
Complete Schedule M15, Underpayment of Estimated Income Tax, to determine your penalty. |
| Extended Delinquency for Missing Returns |
5% of the tax not paid prior to the request or $100 (whichever is more). |
| Late Payment for Tax Assessments |
- 4% of the tax not paid within 30 days of the assessment date or within 60 days after resolution of an appeal
- An additional 5% of the tax not paid within 180 days of the assessment date or within 180 days after resolution of an appeal
|
| Penalty for Negligent or Intentional Disregard of the Law |
10% of any additional tax assessed that is due to negligence or intentional disregard. |
We charge interest on tax and penalties from the time the debt is past due until it is paid in full. Interest rates may change annually.
| Year |
2021 - 2022 |
2020 - 2019 |
2017 - 2018 |
2010 - 2016 |
|---|
| Interest Rate |
3% |
5% |
4% |
3% |
