The deadline for filing your 2018 tax return has passed. If April
15th, 2019 has passed you by and left you searching “what to do if I forgot to file my taxes?”, Community Tax is here to help. First thing’s first — you need to file your taxes as soon as possible. Show
Consequences of Filing Taxes LateFiling your taxes late is a stressful situation that no taxpayer wants to face. Besides navigating what to do and where to go to file your taxes late, you may have one of these frightening consequences lurking around the corner if you don’t act fast.
How To File Late Taxes: Step by Step1) Gather your tax paperwork
2) File for an extensionIf you owe money on your taxes, you’ll need to file for an extension before filing your tax return. Filing for an extension is simple with Community Tax. Our professionals can brief you on everything you need to get approved for an extension, file your taxes with minimal late filing penalties, and help you identify the best tax payment plan. 3) File your taxes4) Evaluate your tax payment options5) Get help filing your taxes lateWhile it’s not too late to file your taxes following the April 15, 2019 deadline, you should file your taxes as soon as possible. The easiest way to file late taxes is with the help of a tax professional. Our team of Enrolled Agents and CPAs are here to expedite the late filing process and get you the best rate possible on your late tax return. Late Taxes — FAQWill I still get a tax refund if I file my taxes late?Even if you forgot to file your taxes, you’re still eligible for a tax refund. Once you file, that is. Is there a penalty for filing late if I expect a tax refund?If you’re owed a tax refund this year, you will not be penalized for filing late. However, the sooner you file, the sooner you get your refund! You must file your tax return within three years of the original tax return due date in order to claim your refund. When should I file for an extension?The moment you miss the April 15th tax deadline, you should start thinking — better yet— start filing for an extension! How long does my extension last?A tax extension will buy you an additional six months to file your taxes (October 15, 2019). But as all things related to the IRS, time is of the essence. Filing for an extension with Community Tax is simple — and we’ll help ensure your taxes are taken care of ASAP! What happens if I forget to file taxes after my extension has expired?Once you get approved for a filing extension, it’s important to file your taxes immediately! If you miss the October 15th deadline, you can bet the IRS will take action to collect your tax dues. Here’s what you can expect if you don’t file before the extension expiry date:
How do I pay my taxes?
What if I can’t pay my taxes?Even the IRS understands — life happens. If you’ve found that your tax dues are too much of a burden on your budget, Community Tax can help you find the right solution to settle up with the IRS — without sacrificing your financial stability. From payment plans to offer in compromise agreements, our team of tax professionals can help every step of the way. What is an Offer in Compromise?An Offer in Compromise (OIC) is a part of the IRS’ Fresh Start Initiative. An OIC is a settlement agreement made when a taxpayer faces insurmountable tax debt. If approved, the OIC can lessen the amount of taxes due to the IRS. What are back taxes?Back taxes are taxes that have either been partially or entirely unpaid to the IRS in a given tax year. These can include federal, state, and local taxes — and can be subject to additional interest or other penalties. You may see back taxes on next year’s tax return, or you may receive a notice from the IRS if you have an outstanding back tax bill. What happens if I never file my taxes?If failure-to-file and failure-to-pay penalties aren’t enough to motivate you to file your taxes — perhaps these consequences will. If you decide not to file your taxes, the IRS may…
Don’t Avoid Filing Your Taxes — Even if They’re LateWhether you’ve missed the tax deadline or you’re already prepping for next year — remember this: file your taxes as soon as possible. If you’re just now coming to the realization that you still need to file your 2018 taxes, don’t hesitate to ask for help. Filing taxes late with Community Tax is simple. From getting you the best rate on your tax return to helping you avoid harsh late filing penalties, our team of tax professionals can help you navigate every step of the way! |