Scammers are contacting taxpayers while pretending to be from the Michigan Department of Treasury, using out‑of‑state phone numbers. They may request payments or attempt to trick you into providing your bank account information. Always verify the source before sharing any personal or financial details.
What happens if I fail to file and make the required estimated tax payments?
What happens if I fail to file and make the required estimated tax payments?
Failure to file and make the required estimated tax payments may result in a bill or an assessment issued by the Michigan Department of Treasury for penalty and interest.
Penalty is 25% for failing to file estimated payments or 10% of underpaid tax per quarter. Interest is 1% above the prime rate.
For more information view Penalty and Interest for Underpayment of Estimates (MI-2210)