The consequences for individuals who don’t file taxes on Tax Day
By Jim Lawson on April 15, 2024
What happens if you don’t file your taxes today?
Monday, April 15, is Tax Day, meaning you’ve got until midnight tonight to file your federal tax return with the IRS. But what happens if you don’t get your taxes done in time?
If you need more time to complete your return, you can file for an automatic six-month extension. Go to IRS.gov, fill out form 4868 to let the IRS know that you are going to need an extension.
But, if you owe the IRS money, that needs to be paid by today or else the IRS will charge a 5 percent penalty on your unpaid taxes for each month, up to a maximum of 25 percent after five months.
If you can’t pay right now, the IRS offers both short and long-term payment plans.
The quickest way to monitor your tax refund is with the IRS’ Where’s My Refund? tracker page, which also lets you know if your return has been rejected due to errors.
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