Richard Moody is reporting for Columbia-Greene Media the village of Chatham will have to pay the Internal Revenue Service more than $18,000 in penalties after owing the federal government $52,104 in taxes, most more than a year overdue. In September, the village paid the IRS the taxes owed, but officials were waiting to learn if the department would waive more than $25,000 in interest and late penalty fees. In the end, the IRS waived only a portion of that sum. “There’s enough money to pay it. The funds will have to come from the general fund and out of fund balance reserves because this was not in the budget,” Village Treasurer Robert Patterson said. The overdue tax amounts were the result of bookkeeping errors, village officials said. Read the full story at HudsonValley360 [dot] com.