The penalty for the late filing of IRS forms can vary depending on the specific form and the circumstances. Here are some common penalties: 1. Late Filing Penalty: This penalty applies when you file a tax return or other required forms after the due date without a valid extension. The penalty is typically 5% of the unpaid taxes for each month (or part of a month) the return is late, up to a maximum of 25% of the unpaid taxes. 2. Failure to Pay Penalty: If you owe taxes and do not pay the full amount by the due date, you may face a separate failure to pay penalty. This penalty is generally 0.5% of the unpaid taxes for each month (or part of a month) the taxes remain unpaid, up to a maximum of 25% of the unpaid taxes. 3. Failure to File Penalty: This penalty is more severe than the late filing penalty. If you do not file a return within 60 days of the due date (including extensions), the minimum penalty is either $435 or 100% of the unpaid tax, whichever is less. It is important to note that the penalties mentioned above are subject to certain exceptions and limitations. Additionally, the IRS may waive or reduce penalties in certain situations if reasonable cause can be demonstrated. It is advisable to consult with a tax professional or refer to the IRS website for the most accurate and up-to-date information regarding penalties for specific IRS forms.