If you missed the April 18th tax deadline, don’t panic! Instead, keep reading to find out what to do if you missed the tax deadline last month.

File as soon as possible.

First of all, when it comes to what to do if you missed the tax deadline without requesting an extension, you should still file as soon as possible to limit interest and penalties.

The good news is that if you are owed a tax refund, you won’t receive any penalties for filing late.

Find out if you automatically qualify for more time.

Certain circumstances mean some taxpayers automatically get extra time to file and pay taxes without penalties or interest.

For example, if you are a disaster victim, in the military, support personnel in combat zones or a U.S. citizen who is working outside the country, you could qualify for an automatic extension. Find out more here.

File and pay what you can now.

If you didn’t file by the April 18th deadline and you owe taxes, you could be hit with at least two penalties. First, there is a failure-to-file penalty. Next, there is a failure-to-pay penalty.

Even if you do have penalties, don’t put filing and paying what you can off any longer. In fact, when you file and pay what you can, you can then request a payment plan from the IRS to help.

Use e-file with direct deposit.

If you know you owe taxes to the IRS, you can pay promptly and securely through several options, including Direct Pay, for instance.

Even if you don’t meet the IRS income threshold for filing taxes, file anyway.

Did you know you could be missing out on potential refundable tax credits by not filing? It’s true. Even if your taxable income is less than the IRS income threshold for filing, you should still file a tax return.

You may be eligible for tax credits such as the Earned Income Tax Credit.

Work with tax professionals.

Finally, work with tax professionals like the ones you will find at Todd Greene, CPA, PLLC, to help you take the next steps, like properly preparing your tax return.

Summary

Now that you know what to do if you missed the tax deadline recently, contact us to get started. For more helpful tax tips and other financial news, continue to read our blogs.