The penalty for late filing of IRS form annual forms may vary depending on the specific form and circumstances. If the late filing is due to reasonable cause, the IRS may waive the penalty. However, if the late filing is not due to reasonable cause, the penalty generally applies. For example, for late filing of individual income tax returns (Form 1040), the penalty is generally 5% of the unpaid taxes for each month or part of a month the return is late, up to a maximum of 25%. If the return is over 60 days late, the minimum penalty is either $435 or 100% of the unpaid tax, whichever is less. For late filing of partnership tax returns (Form 1065), the penalty is generally $210 for each month or part of a month the return is late, multiplied by the number of partners in the partnership, for up to 12 months. It is important to note that these are just examples and the penalties for late filing of other forms may vary. It is recommended to consult the specific instructions for the form in question or seek professional advice for accurate penalties and guidance pertaining to your situation.