What are the penalties for late payment or filing of Pennsylvania state taxes?

The penalties for late payment or filing of Pennsylvania state taxes vary depending on the circumstances. If you fail to file your Pennsylvania state tax return by the due date, a late filing penalty of 5% per month, up to a maximum of 25%, will be assessed on the amount of tax due. If you fail to pay your Pennsylvania state tax liability by the due date, a late payment penalty of 0.5% per month, up to a maximum of 25%, will be added to the amount owed. Additionally, interest will accrue on any unpaid balance until it is fully paid. It's important to note that penalties and interest apply separately, so both may be assessed if you file and pay late. Therefore, it is crucial to file your Pennsylvania state tax return and pay any taxes owed on time to avoid unnecessary penalties and interest charges.