If you continually ignore your taxes , you may have more than fees to deal with. The IRS could:. Don't miss: You only have a few days left to make contributions to your IRA—here's what you should know. Skip Navigation. Jennifer Liu. VIDEO The Exchange. While you'll still have to fill out and file as much of your as you can as well as pay your estimated taxes , you'll have until mid-October to finish the tax-filing process. This publication is not intended as legal or tax advice.
Taxpayers should seek advice based on their particular circumstances from an independent tax advisor. But what happens if you file taxes a day late? Here's what to know. Also, pay some or all of your taxes as soon as possible.
If you cannot pay the full amount now , you may be able to enter into a payment arrangement with the IRS. You have until October 15, to e-file a Tax Return. You will not owe any penalties, but you must file a tax return within 3 years of the original deadline in order to claim a tax refund by April 15, for Tax Returns. If you file a return and later realize you made an error on the return, the deadline for claiming any refund due is 3 years after the return was filed or 2 years after the tax was paid, whichever expires later.
Prepare and e-file a Tax Return through eFile. You have until April 15,, to paper file a Tax Return and still claim any refund you are owed. Otherwise, you will probably have to pay a failure-to-pay penalty of 0. The amount you owe for this penalty will be reduced by the amount you owe for the failure-to-pay penalty, if you owe both of them in any month. Prepare and e-file a Tax Return on eFile. Also, pay as much as you can as soon as possible. If you cannot pay the full balance now, you may be able to enter into an IRS installment tax payment plan.
If you filed your extension on eFile. This situation is the same as having filed no tax return at all and you will likely face failure-to-file penalties and failure-to-pay penalties.
As you can see, not filing a tax return on time is more expensive than not paying taxes! File and pay as soon as possible. You have a reasonable cause for not filing your tax return or paying your taxes owed on time. You generally will not have to pay a failure-to-file or a failure-to-pay penalty. There are a few scenarios where a taxpayer may receive an extension of time to file:.
How can you pay your tax bill when the balance due keeps adding up? Pay your due tax to the best of your financial ability and, at the very least, file your return or extension as soon as possible.
For example, if you use a credit card or a loan to pay your tax bill, the interest may be less than the IRS penalties you would face.
Options to pay the taxes you owe now. More information about installment plans and other IRS payment options. What is DocuClix? Security About eFile. Where Is My Refund? How to Check Refund Status efile. Mailing Addresses Contact eFile. Sign In Start Now.
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