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April 16, 2018

What to Know if You Miss the Tax Day Deadline

  taxes

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If you forgot to file for an extension, the situation isn’t so bleak — simply try to get your returns in as fast as possible. The IRS website says “there is no penalty for filing a late return if you are due a refund.” For those looking to file their federal taxes online, you can use IRS Free File through Oct. 15, or other programs like TurboTax.

You will owe a penalty for filing late, plus interest on the amount due on Tax Day. Pay as much money as you can to start, then apply for a payment plan. In order to start a payment plan, one must apply online at the IRS Online Payment Agreement or attach Form 9465, Installment Agreement Request, to a mailed return. Even if you are not required to file, you may still get a refund. Happy tax season!

 

 

 

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