Did you miss the April 15th tax filing deadline?

Did you miss the April 15th tax filing deadline?

Here is some useful information if you did miss the April 15th tax filing deadline.

The April 15th tax-filing deadline has passed for most people. Taxpayers who did not file an extension and still have not filed their tax returns should file ASAP. You should do so even if you are unable to pay to avoid potential penalties and interest, which can continue to add up quickly.

Penalties and interest are only added on unfiled returns if the taxpayer didn’t pay taxes by the April 15th deadline. If you owe tax you should file a tax return and pay as much as you can to now. If you cannot pay the full amount there are payment options. These can reduce possible penalties and interest added to the amount you owe.

If a return is filed more than 60 days after the April due date, the minimum penalty is either $210 or 100 percent of the unpaid tax, whichever is less. Therefore, if the tax due is $210 or less, the penalty is equal to the tax amount due. If the tax due is more than $210, the penalty is at least $210.

There are some taxpayers that may have extra time to file tax return and pay any taxes due. These include:  Some disaster victims, Military service members and eligible support,  personnel in combat zones, U.S. citizens and resident aliens who live and work outside the U.S. and Puerto Rico

If you who have a history of filing and paying on time you may qualify for first-time penalty abatement.

There is no penalty for filing late if a refund is due.