Penalties
Entries across the digest that deal with penalties.
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Tax
Estimated Tax Payments and the Underpayment Penalty
Federal income tax is pay-as-you-go. If withholding does not cover the year's liability, four estimated installments are due, and missing them triggers a penalty computed installment by installment.
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Tax
Federal Tax Liens and Levies: Notice, Appeal, and Release
A federal tax lien attaches by operation of law once tax is assessed, demanded, and unpaid. A levy that seizes property requires separate notice and a hearing right.
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Tax
The Trust Fund Recovery Penalty for Unpaid Payroll Taxes
Withheld payroll taxes belong to the government from the moment they are withheld. Section 6672 shifts liability for unpaid amounts onto the individuals who controlled the money.
