Interest Rates by the Years:
The interest rate on unpaid taxes for tax year beginning January 1, 2020, will be 7% per annum (.583% per month).
The interest rate on unpaid taxes for tax year beginning January 1, 2019, will be 7% per annum (.583% per month).
The interest rate on unpaid taxes for tax year beginning January 1, 2018, will be 6% per annum (.500% per month). The interest rate on unpaid taxes for tax year 2015 and prior is still 18% per annum (1.5% per month).
Starting 1/1/2020 - Penalty for Late Withholding Payments
*Note: Any portion of a month counts as one month. For example, if your payment was due May 15th, on May 16th your payment is considered 1 month late. If the payment is sent in June 1st, your payment is 2 months late.