If you fail to meet the April tax deadline it is very important to file your return as quickly as possible after this date. You must get your taxes filed even if you cannot afford the amount due at the current time.
Start Filing at TurboTax Online
The following is a list of examples and possible consequences when filing your tax return late or not at all:
I filed my tax return after the April deadline
In this situation you must file your taxes as soon as possible and then you may be subject to penalties and interest because you are late. If you are owed a tax refund it could delay this process but will not have any penalties. If you wait too long you may lose your refund entirely.
I didn't file a tax return at all
If you have failed to file a tax return at all you will receive a letter directly from the IRS. This letter will inform you that you need to file your return. It will instruct you on what forms to file. The IRS may even come up with their own assessment of your taxes.
I need to file an extension
Extensions are certainly acceptable as long as you follow the correct process to file an extension with the IRS. Many people are unaware that you must file an extension before you are late. Which means it must be filed before the April deadline.
I need to file a return for the previous year
You may file a tax return for the previous year but we suggest using online software to simplify this process. You may consider using turbo tax to help you with this.
If you have missed the tax deadline or think you will need an extension please visit TurboTax Online to file now or find more information.
TurboTax online offers a free tax calculator to save you time and money when completing your tax return.
Comments