Updated October 28, 2016. Exterior walls can be finished with a wide array of materials and techniques. Exterior wall finishes can produce significant savings for the contractor as well as for the building occupant and there are many options that will protect you from fire, heat, snow and that can save some money to you.
When Is Penalty Interest Payable? Penalty interest is payable when money is due, but is not paid by the due date. This means that late payment of deposit or late payment of the balance of the purchase price at settlement will usually give rise to an obligation to pay penalty interest.
The interest rate is the federal short-term rate plus 3 percent. 2. The late payment penalty is one-half of one percent of the tax (0.5%) owed for each month, or part of a month, that the tax remains unpaid after the due date, not exceeding 25 percent. Source(s): IRS.Richard M Â· 8 years ago.eport Abuse. The IRS, as I understand it, charges a penalty of up to 25 percent of the debt for not paying when you were supposed to and six percent per year from the time the debt was owed until it is paid. And you will pay interest on the accumulated interest as well.