The deadline for filing taxes is tomorrow, and this year the IRS is expected to handle around 150 million tax returns. Not every taxpayer manages to file their taxes or make payments on time. This article discusses what the consequences are for tax payers who do not file or pay by the April 18 deadline. The IRS has a failure-to-file and a failure-to-pay penalty that it will issue in certain circumstances. This article discusses these two types of penalties and what people can do to try to avoid them. There are different options that people might want to carefully consider. It is important to get assistance from a tax professional who can provide appropriate advice for a tax payers individual set of circumstances.
See Sean Williams, Here’s What Happens If You Don’t File or Pay Your Taxes, My San Antonio, April 17, 2016.
Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.
