Freighter travel may seem to have much less going on than a regular cruise ship because there are no planned activities, but there is plenty of time to read, get some sun, and take some time for yourself in the great outdoors!
Interest accrues on the unpaid balance and compounds daily from the due date of the return (without regard to any extension of time to file) until you pay the balance in full. The interest rate is the federal short-term rate plus 3%. The federal short-term rate is determined every three months. For the current quarterly interest rate on underpayments, search interest rates in the News Release and Fact Sheet Archive or quarter interest rates on IRS.gov. Failure to pay penalty is charged for failing to pay your tax by the due date. The late payment penalty is 0.5% of the tax owed after the due date, for each month or part of a month the tax remains unpaid, up to 25%.
On a 1-year bond your effective rate of interest after basic rate tax is 2.24% and after higher-rate tax 1.68%. On a 3-year bond the equivalent rates are 3..2% and 2.4%, according to moneysavingexpert.com.