Elijah waited until June 7 2017 to file his Form 1040 for Ta

Solution

If tax payers file their 2016 tax return more than 60 days after the due date or extended due date, the minimum penalty is $205 , or if they owe less than $205, 100 per cent of the unpaid tax. Other wise the penalty can be as much as 5 per cent of their unpaid taxes each month up to a maximum of 25 per cent.