Late fees and interest on unpaid taxes

Penalties and interest shall be added to and become a part of the tax, when:Failure to file tax return.In case of failure to file any tax return required to be filed on the date required (determined with regard to any extension of time for filing), unless it is shown that the failure is due to reasonable cause and not due to neglect, there will be added to the amount required to be shown as tax on the return 5% of the amount of the tax if the failure is for not more than one month, with an additional 5% for each additional month or fraction thereof during which the failure continues, not exceeding 25% in the aggregate. For purposes of this subsection, the amount of tax required to be shown on the return will be reduced by the amount of any part of the tax paid on or before the date prescribed for payment of the tax and by the amount of any credit against the tax which may be claimed upon the return.Failure to pay tax.If any part of any underpayment is due to negligence or intentional disregard (but without intent to defraud), there shall be added to the tax an amount up to 25% of the underpayment as determined by the County Finance Director.If any part of any underpayment of tax required to be shown on a return is due to fraud, there shall be added to the tax an amount up to 50% of the underpayment as determined by the County Finance Director.Interest on underpayment or nonpayment of tax.If any amount of tax is not paid on or before the last date prescribed for payment, interest on such amount at the rate of 2/3 of 1% a month or fraction of a month shall be paid for the period beginning with the first calendar day after the date prescribed for payment.Interest prescribed under this paragraph on any tax shall be paid upon notice and demand, and shall be assessed, collected, and paid in the same manner as taxes.No interest under this paragraph shall be imposed on interest provided by this paragraph.If any portion of a tax is satisfied by credit of any overpayment, then no interest shall be imposed under this paragraph on the portion of the tax so satisfied for any period during which, if the credit had not been made, interest would have been allowable with respect to the overpayment.No taxpayer shall be exempt from any penalty or interest by reason of having contested the tax, but only to the extent that the tax is adjudged to be excessive or contrary to law.With approval of the County Attorney, the County Finance Director shall have the power to compromise any claim arising under this Chapter not exceeding $5,000.