What penalties or fees may apply if I miss the tax deadline?

If you miss the tax deadline in Michigan, you may be subject to penalties and fees. The penalty for late filing is 5% of the unpaid tax for each month it remains unpaid, up to a maximum of 25%. In addition, interest will accrue on the unpaid tax at a rate of 1% per month. A fee may also apply for late payment of tax, which is 1% of the unpaid tax amount, up to a maximum of $100. Furthermore, if you fail to file a return within 60 days of the due date, you may face a penalty of $100 or 20% of the tax due, whichever is greater. It is important to file and pay your taxes on time to avoid these penalties and fees.