Missed the April Tax-Filing Deadline? Here’s What to Do Next

If you missed the April 15 tax-filing deadline, don’t panic—but don’t delay either. Filing your tax return as soon as possible can help minimize penalties, reduce interest, and keep you in good standing with the IRS.

File Promptly to Minimize Penalties and Interest

Missing the filing deadline can result in two types of penalties: one for filing late and another for paying late. The longer you wait, the more these penalties can add up. Even if you can’t afford to pay the full tax amount owed, you should still file your return. The IRS will charge interest on any unpaid taxes until the full balance is paid.

Pro tip: Filing a return late without a valid extension can trigger a failure-to-file penalty—usually much steeper than the failure-to-pay penalty.

Extensions Don’t Extend Time to Pay

It’s a common misconception that a filing extension gives you more time to pay. While an extension allows you to submit your return later—typically until October—it does not extend the time you have to pay any taxes owed. Interest and penalties start accumulating right after the original deadline.

Owe Taxes? Pay What You Can

If you’re unable to pay the full amount due, pay as much as possible now. The IRS offers several solutions for taxpayers in this situation, including:

• Payment plans and installment agreements

• Temporary delay of collection

• Offer in compromise (settling for less than the full amount owed)

You may also be eligible for first-time penalty abatement if you’ve filed and paid on time in the past three years and meet certain criteria. A qualified tax professional can guide you through the available options to manage your balance and avoid further financial strain.

Expecting a Refund? File Anyway

There’s no penalty for filing late if the IRS owes you a refund—but don’t wait too long. You generally have up to three years to claim your refund. After that window closes, the money goes to the U.S. Treasury.

Taxpayers who don’t file because they earn below the filing threshold often miss out on valuable refundable credits like:

• Earned Income Tax Credit (EITC)

• Child Tax Credit (CTC)

• Education credits

• Recovery Rebate Credit (related to stimulus payments)

Even if your income was low, it’s worth filing to see if you’re due a refund.

Let a Trusted CPA Help You Get Back on Track

If you’re unsure how to proceed—whether you owe taxes or might be due a refund—a licensed CPA can help you navigate the process, avoid unnecessary penalties, and plan for future tax seasons. Working with a professional ensures your return is accurate and that you’re taking advantage of all credits and deductions available to you.

Need help filing late or managing your tax bill?
Contact us today—we’re here to help.

📞 Call: 323-902-1000
📧 Email: dmitriy@losangelescpa.org
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