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The penalty amount for filing your income tax return late depends on your net income.

If you have not filed your return, the penalty is based on net income shown in your previous years return.

After you file the late return, the penalty will be adjusted for the actual net income shown for the current year.

Net income Penalty
Less than $100,000 $50
$100,000 to $1 million $250
More than $1 million $500