If you didn't file or owe taxes, file a return as soon as possible and pay as much as possible to reduce penalties and interest. The penalty for not filing a tax return is 5% of unpaid taxes for each month or part of the month in which the tax return is late. The penalty will not exceed 25% of unpaid taxes. With Direct Pay and the Electronic Federal Tax Payment System (EFTPS), taxpayers can receive email notifications about their payments.
Penalties and interest apply to taxes due after April 18, and interest is charged on taxes and penalties until the balance is paid in full. Otherwise, you'll have to pay a non-payment penalty of 0.5% of your balance due for each month (or part of a month) in which you don't pay your taxes. The penalty for non-payment is 0.5% of the balance due for each month (or part of a month) in which your taxes remain unpaid. Taxpayers should file their tax return and pay any taxes due as soon as possible to reduce penalties and interest.
The IRS penalty for not filing the return is 5% of your unpaid taxes for each month or partial month in which your tax return is late. WASHINGTON The Internal Revenue Service today urged taxpayers who missed the tax filing deadline of Tuesday, April 18, to file their return as soon as possible. You can file a tax extension by mailing Form 4868 to the IRS or paying the taxes due using Direct Pay, the Electronic Federal Tax Payment System (EFTPS) or credit or debit card before the tax due date. For example, if you use a credit card or loan to pay your tax bill, the interest may be lower than the IRS penalties you would face.
Filing an extension automatically delays the tax filing deadline and protects you from potential missed filing and from penalties. The IRS cannot send you to jail and cannot file criminal charges against you if you don't pay your taxes. If you owe back taxes, it's wise to work with a certified public accountant or experienced tax preparer to file late returns, set up a reasonable payment plan, and request a reduction in the penalty. If you apply but don't pay, you will only be fined 0.5%, which will increase every month to 25%.
If you don't pay the full amount you owe before the tax deadline, even if you file an extension, you will be penalized 0.5% of the balance due per month or part of a month after the deadline. People who owe taxes can pay quickly and securely through their IRS online account, IRS Direct Pay, debit or credit card, or digital wallet, or they can request an online payment plan (including an installment agreement). Third-party providers, such as Official Payments Corporation, are also available to make it easier to use a credit card to pay your tax bill.