The penalty for late filing of Form 668-D, commonly known as a levy release, depends on several factors, including the amount owed and the duration of the delay. The Internal Revenue Service (IRS) may impose penalties and interest for late filing. The specific penalty amounts can vary, but generally, the IRS may charge a penalty of 0.5% to 1% per month or a portion thereof on the unpaid tax, up to a maximum of 25%. It's important to note that penalties and interest can accumulate over time until the tax debt is fully paid or resolved. It is advisable to consult with a tax professional or contact the IRS directly for precise information related to your specific situation.