Tax Tip 2023-54: Missed the Tax Day deadline? Here?s what taxpayers should do

IRS Tax Tips

April 20, 2023

Issue Number:?Tax Tip 2023-54

Missed the Tax Day deadline? Here?s what taxpayers should do

Taxpayers who missed the recent April filing and payment deadline should know their obligations and the possible consequences if they don?t file or have an overdue tax bill.

Taxpayers who owe tax
Tax owed and not paid by April 18, 2023, is subject to?penalties and interest. Anyone who didn't file and owes tax should file a return as soon as they can and pay as much as they can to reduce penalties and interest. Electronic filing options, including?IRS Free File, are still available on IRS.gov through October 16, 2023, to prepare and file returns electronically.

Filing soon is very important because the late-filing and late-payment penalties and?interest?on unpaid taxes add up quickly. Some taxpayers filing after the deadline may qualify for penalty relief. For those charged a penalty, they may contact the IRS by calling the number on their notice and explain why they couldn't file and pay on time.

Taxpayers who have a history of filing and paying on time often qualify for administrative penalty relief. A taxpayer usually qualifies if they have filed and paid promptly for the past three years and meet other requirements. For details, taxpayers should visit the?first-time penalty abatement page?on IRS.gov.

If taxpayers find that they owe taxes, they can review their?available?payment options. The IRS has options for taxpayers who?can't pay taxes?they owe. Information on reducing the amount of interest owed is on?the interest abatement page of IRS.gov.

Military personnel can still use MilTax
The military community can also file their taxes using?MilTax, a free tax resource offered through the Department of Defense.?Eligible taxpayers?can use MilTax to electronically file a federal tax return and up to three state returns for free.

Some taxpayers have extra time
Some taxpayers may have extra time to file their tax returns and pay any taxes due. This includes some?disaster victims,?taxpayers living overseas, certain?military service members?and?eligible support personnel in combat zones.

Taxpayers who weren?t required to file
Some people may choose not to file a tax return because they didn't earn enough money to be?required to file. Generally, they won't receive a penalty if they are owed a refund, but they risk?missing out on their refund.

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Issue Number:?Tax Tip 2023-54