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Issue Number: ???IR-2024-116Inside This IssueMissed the April tax-filing deadline? File quickly to avoid penalties and interest; those owed a refund also shouldn?t forget to file WASHINGTON ? The Internal Revenue Service today encouraged taxpayers who missed the April tax-filing deadline to file a tax return as soon as they can. The IRS offers different resources to help those who may be unable to pay their tax bill in total. Those who missed the deadline to file but owe taxes should file quickly to minimize penalties and interest. Taxpayers should keep in mind that payments are still due by the April 15 deadline, even if they requested an extension of time to file a tax return. An extension to file is not an extension to pay. File and pay amount owed to reduce penalties and interest Taxpayers who still owe taxes should file their tax return and pay any taxes owed quickly to reduce penalties and interest. Until the balance is paid in full, interest and penalties accrue on taxes owed. Even if a taxpayer can't afford to immediately pay the full amount of taxes owed, they should still file a tax return and pay as much as possible. This reduces interest and penalties on the outstanding amount and may help avoid a possible late-filing penalty. There are options for?taxpayers who owe the IRS but cannot afford to pay. For more information see the?penalties page?on IRS.gov. Taxpayers may qualify for penalty relief if they have filed and paid timely for the past three years and meet other important requirements, including paying or arranging to pay any tax due. For more information, see the?first-time penalty abatement?page on IRS.gov. Electronically pay taxes owed A quick, easy way for individuals to pay taxes owed securely is through IRS Direct Pay, debit or credit card or digital wallet, or their IRS Online Account. Taxpayers may also apply online for a payment plan (including an installment agreement). Those who pay electronically get immediate confirmation after submitting payment. The Electronic Federal Tax Payment System (EFTPS) and Direct Pay allow taxpayers to receive payment email notifications. Find more payment options on IRS.gov/payments. Some taxpayers automatically qualify for extra time to file and pay taxes due without penalties and interest, including:
Owed a refund? Don?t overlook filing a tax return; 2020 unclaimed refund deadline May 17 Taxpayers who choose not to file a return because they don't earn enough to meet the filing requirement may miss out on receiving a refund due to potential refundable tax credits. Some examples are the?Earned Income Tax Credit?and?Child Tax Credit. Taxpayers sometimes fail to file a tax return and claim a refund for these credits and others for which they may be eligible. There's no penalty for filing after the April 15 deadline if a refund is due. However, taxpayers due a refund should still consider filing as soon as possible. Every year, the IRS estimates that there are nearly a million taxpayers potentially due refund money who failed to file prior year tax returns. For taxpayers who didn?t file a 2020 tax return, time is running out to claim those refunds. The deadline to file 2020 returns is May 17, 2024. Taxpayers still needing to file for tax year 2023 are encouraged to use electronic filing options including IRS?Free File, which is available on IRS.gov through Oct. 20 to prepare and file 2023 tax returns electronically. Taxpayers can track their refund using the??Where's My Refund???tool on IRS.gov,?IRS2Go?or by calling the automated refund hotline at 800-829-1954. To use the tool, taxpayers need the primary Social Security number on the tax return, the filing status and the expected refund amount. The refund status information updates once daily, usually overnight, so there's no need to check more frequently. Selecting a trusted tax professional Taxpayers who still need to file a return may wish to consult a tax preparer. The IRS has resources to help taxpayers choose a tax professional. Tools like the?Directory of Federal Tax Return Preparers with Credentials and Select Qualifications?allows taxpayers to find tax return preparers who have completed IRS requirements for the Annual Filing Season Program or who hold a professional credential recognized by the IRS. Taxpayer Bill of Rights Taxpayers have fundamental rights under the law that protect them when interacting with the IRS. The?Taxpayer Bill of Rights?divides them in 10 categories. IRS?Publication 1, Your Rights as a Taxpayer, reiterates these rights along with the agency's obligation to protect them. ? Back to Top? ? ? Thank you for subscribing to the IRS Newswire, an IRS e-mail service. If you know someone who might want to subscribe to this mailing list, please forward this message to them so they can subscribe. This message was distributed automatically from the mailing list IRS Newswire. Please Do Not Reply To This Message. |
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