What to Do If You Missed the April 15 Tax Return Deadline

Wednesday, 17 April 2024, 00:00

Learn the consequences of filing taxes late and what actions to take if you missed the tax deadline. Find out about penalties, extensions, and special cases where additional time is granted. Take control of your situation to minimize financial risks and ensure compliance.

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Consequences of Being Late

If you file your taxes after April 15 and owe money, you face penalties: a late payment penalty of 0.5% per month and a failure-to-file penalty of 5%, up to 25%.

What to Do If You've Missed the Tax Deadline

Your best bet is to file your taxes as soon as possible to minimize penalties. Avoid filing a tax extension after the deadline.

Special Cases

Military members in combat zones get an extra six months.
Residents of certain states impacted by severe events may have until June 17 to file taxes.

It's vital to act promptly to reduce financial risks when filing taxes late.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.