The longer you delay, the more you'll have to pay, as there are further late-filing penalties after three, six and twelve months.

So, you'll need to act now if you want to send in a paper return and avoid a late-filing penalty.

Companies House introduced late-filing penalties in 1992 to encourage directors to file on time.

Even those who cannot scrape together the money to pay the I.R.S. on time should still be sure to file a return or apply for an extension by Friday, to avoid a late-filing penalty, which runs five percent per month.

The risk of waiting, however, is that a late-filing penalty as well as interest may be charged by the CRA.

She also agreed to pay a 75 percent fraud penalty and a late-filing penalty that adds $235,616.

However, with three million returns outstanding, many people will still be rushing to avoid a late-filing penalty.

Revenue & Customs Brief 24/10 Company Tax Returns must be submitted on the required date to avoid a late-filing penalty.

They should file returns to avoid a late-filing penalty, he said, and work out a payment plan with the I.R.S.

Nonfilers snared by the agency will owe a late-filing penalty of 5 percent a month of the amount due up to a maximum of 25 percent, plus the penalty and interest for late payments.