Definition of Tax Penalty

Tax Penalty means the late filing penalty charged by the Internal Revenue Service for late filing of the partnership tax return, which, according to a notice dated August 12, 2013 and addressed to the Company, was $9,360 as of the date of such notice.
Sample 1

Examples of Tax Penalty in a sentence

If the Accounting Firm determines that no Tax Penalty would be imposed, the Successor and the Employee shall use their best efforts to ensure that the Accounting Firm furnishes both the Employee and the Successor with an unqualified opinion to that effect.
Item Devolved Tax Amount of Tax Penalty date 1 Land transaction tax Amount (or additional amount) payable as a result of a tax return made by the buyer in a land transaction (unless the amount falls within item 8 or 9).
Line 36 Estimated Tax Penalty See the instructions for Penalties and Interest on page 17 and Form N-210 to see if you owe a penalty for the underpayment of estimated taxes.
Zolt, Deterrence Via Taxation: A Critical Analysis of Tax Penalty Provisions, 37 UCLA L.
January 27, 2000 JCX-3-00--Description Of The Marriage Tax Penalty Relief Act Of 2000.