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Penalties And interest For Late Tax Filing

Did you miss the April 18th tax filing and payment deadline?  The IRS says there are possible consequences if you 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 possible 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, to prepare and file returns electronically.

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.  Those who have a history of filing and paying on time often qualify for administrative penalty relief.