560-7-8-.09 Addition to Tax in Case of Nonpayment.

(1) If the amount of tax shown on a return as being due (after consideration of allowable credits) or any part thereof, is not paid by the date prescribed for such payment, a penalty, as hereinafter provided, shall be added to and collected as part of such tax, unless the taxpayer proves to the satisfaction of the Commissioner that there is reasonable cause for such delinquency. An extension of time for payment of tax is not provided for in O.C.G.A. § 48-7-86. An extension of time to file a return does not extend the time for payment of tax. The taxpayer who has an approved Federal extension of time to file must pay the Georgia tax due on or before the statutory date prescribed for payment. (2) If the amount of tax specified in a notice and demand for any tax required to be shown on a return which is not so shown is not paid within 10 days from the date thereof, a penalty, as hereinafter provided, shall be added to and collected as a part of such tax, unless the taxpayer proves to the satisfaction of the Commissioner that there is reasonable cause for such delinquency. (3) The penalty cited in paragraphs (1) and (2) above shall be 1/2 of 1% for each month or fractional part thereof of delinquency. For purposes of this section, the term "month" shall be the period from the date of the month on which the return is due to the same day in the next succeeding month and thereafter to the corresponding date of each succeeding month. (4) The maximum late payment penalty and late filing penalty imposed by O.C.G.A. § 48-7- 57 shall not exceed 25% of the tax not paid by the due date (excluding extensions). (5) Penalty for Negligence. If all or any part of a deficiency in tax is determined by the Commissioner to be attributable to either negligence or to an intentional disregard of the Georgia Law and the Rules and Regulations thereunder, a penalty of 5% of such deficiency shall be assessed and collected as a part of such tax. (6) Penalty for Fraud. If all or any part of a deficiency in tax is determined by the Commissioner to be attributable to fraud, a penalty of 50% of such deficiency shall be assessed and collected as a part of such tax. If a penalty for fraud is asserted with respect to any tax, no further penalty shall be assessed on such tax. Authority: O.C.G.A. Secs. 48-2-12, 48-7-86, 92-3005, 92-3006, 92-8405, 92-8406, 92-8409, 92-8427. History. Original Rule entitled "Extension of Time for Returns" adopted. F. and eff. June 30, 1965. Amended: F. Sept. 1, 1967; eff. Sept. 20, 1967. Repealed: New Rule entitled "Extensions of Time" adopted. F. Feb. 16, 1972; eff. Mar. 7, 1972. Repealed: New Rule entitled "Addition to Tax in Case of Nonpayment" adopted. F. May 4, 1976; eff. May 24, 1976. Amended: F. Dec. 6, 2010; eff. Dec. 26, 2010. Rule 560-7-8-.10. Penalties for Late Filing.Amended. (1) If an income tax return is not filed on or before the due date therefor, a penalty as hereinafter provided shall be added to and collected as a part of the tax due thereon, unless the taxpayer proves to the satisfaction of the Commissioner that there is reasonable cause for such delinquency, or unless the taxpayer furnishes with his return a copy of an extension of time granted by the Internal Revenue Service and files such return within such extended time. (2) The penalty, cited above, shall be 5% for each month or fractional part thereof of delinquency. For purposes of this section, the term "month" shall mean the period from the date of the month on which the return is due to the same date in the next succeeding month, and thereafter to the corresponding date of each succeeding month. A penalty assertable under this section shall be computed on the tax required to be shown on the return less any allowable credits or payments made on or before the statutory date prescribed for payment of tax. (3) In the event both the late filing penalty and the late payment penalty imposed by O.C.G.A. § 48-7-86 are imposed in the same month, the amount of the late filing penalty shall be reduced by the amount of the late payment penalty that is imposed in such month. (4) The maximum late filing penalty and late payment penalty imposed by O.C.G.A. § 48-7- 86 shall not exceed 25% of the tax not paid by the due date (excluding extensions). Authority: O.C.G.A. Secs. 48-2-12, 48-7-57, 92-3005, 92-3006, 92-8405, 92-8406, 92-8409, 92-8427. History. Original Rule entitled "Penalties; Late Filing of, and Failure to File Return; False or Fraudulent Return" adopted. F. and eff. June 30, 1965. Repealed: New Rule entitled "Penalties" adopted. F. Feb. 16, 1972; eff. Mar. 7, 1972. Repealed: New Rule entitled "Penalties for Late Filing" adopted. F. May 4, 1976; eff. May 24, 1976. Amended: F. Dec. 6, 2010; eff. Dec. 26, 2010.