What To Do If You Miss the Tax-Filing Deadline: Five steps to take to minimize any penalties and consequences

Here are five steps you can take if you missed the tax filing deadline:

File your taxes as soon as possible: Even if you missed the deadline, it’s important to file your taxes as soon as possible. The longer you wait, the more penalties and interest charges you will incur.

Pay any taxes owed: If you owe taxes, it’s important to pay them as soon as possible to avoid additional penalties and interest charges.

You can use the IRS’s online payment options or pay by check or money order.

Request an extension: If you need more time to file your taxes, you can request an extension of time to file. This will give you an additional six months to file your taxes. However, keep in mind that an extension of time to file does not extend the deadline to pay any taxes owed.

File amended returns: If you realize that you made a mistake on your tax return after you’ve already filed, you can file an amended return. However, you should only do this if you discover an error or omission on your return. You cannot use an amended return to avoid penalties for a late filing.

Contact the IRS: If you’re having trouble filing your taxes or paying any taxes owed, you can contact the IRS for assistance. The IRS can provide you with guidance on how to file your taxes or set up a payment plan if you’re unable to pay in full.

If you miss the tax filing deadline, don’t panic. Taking these steps will help you minimize any penalties or consequences associated with a late filing.

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