@Dina83
Let's try to break it down.
These rules below look like they pertain to filing a tax return for an individual taxpayer 60 or more days late.
“The maximum penalty is 25% of the tax due, and the minimum penalty (due if tax is not paid within 60 days of the due date) is the lesser of $210 (2017) or the amount of the tax due. If the minimum tax applies and is greater than the maximum tax, then the minimum tax must be paid.”
1. The maximum penalty is 25% of the tax due
2. The minimum penalty is the lessor of $210 or the amount of tax due
A) the minimum penalty is applicable only if the tax is not paid within 60 days of the due date
3. If you end up paying the minimum tax penalty and it is greater than the maximum tax penalty, then the minimum tax penalty must be paid.
Where did you read this information from BTW?
BEC = 72 (6/08/16)
FAR = ?
REG = ?
AUD = ?
.