Tax-topic-201 -

: You will also accrue a monthly late payment penalty up to the maximum legal limit.

If you cannot afford to pay your tax bill in full immediately, you must still take action to avoid asset seizure. The IRS provides several relief options: tax-topic-201

: The unpaid balance is subject to interest that compounds daily until the debt is paid. : You will also accrue a monthly late

It explains the rights you maintain as a taxpayer throughout this process. 📉 How the Collection Process Works tax-topic-201