What Happens When You Fail to Submit Your New York State Taxes

Consequences of Failing to File New York State Taxes:

Just as it's sometimes possible to drop the ball on filing your federal taxes, so too might you inevitably drop the ball on your state taxes. But if you're a New York resident, you should know that the consequences there could be pretty dire. So if you're sitting on an old tax return you know you need to submit, don't just ignore the problem.

You don't want to break the law

There's a big difference between being late with a New York State tax return and simply blowing it off. If you don't file a return at all, you could be charged with criminal tax evasion and face costly fines.

• You're generally better off filing your state tax return and not paying your associated bill than not filing at all.
• If you're late filing a New York State tax return, you may be looking at costly penalties.
• Requesting a tax extension for your New York State return could help you avoid a failure-to-file penalty.

Being late will cost you

If you're late filing a New York State tax return, at that point, you're not necessarily looking at criminal charges. But you may be looking at costly penalties.

1. The penalty for failing to file your state tax return is higher than the penalty for not paying your bill.
2. If your return is more than 60 days late, you're looking at a minimum penalty of $100 unless you owe less than that based on your return.

Consult a tax professional if you're at risk of being charged with a tax crime, especially for years-long overdue state tax returns. It's crucial to file on time to avoid severe consequences.