IRS Urges Taxpayers to File Taxes Immediately: Key Points to Know

NEW YORK – The Internal Revenue Service (IRS) encouraged taxpayers who missed the April tax filing deadline to file their taxes as soon as possible.

The IRS offers various resources to help those who cannot pay their tax bill in full. Those who missed the filing deadline but owe taxes should file promptly to minimize penalties and interest.

Taxpayers should note that payments are still due by the April 15 deadline, even if they requested an extension of time to submit a tax return. A file extension is not a paid extension.

Here are some of the key points shared by the group:

File and pay the amount owed to reduce penalties and interest

Taxpayers who have unpaid tax debts​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​ should file their tax return and pay any tax due​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​ reduce interest. The fees and interests They accumulate until the amount is paid in full.

Even if a taxpayer cannot pay the tax debt in full immediately, he or she should still file a tax return and pay as much as possible. This will reduce penalties and interest on the amount owed and help avoid a late payment penalty.

There are options for Taxpayers with debts to the IRS they can’t pay.

Taxpayers may qualify for penalty relief if they have filed and paid on time for the past three years and have met other important requirements, including paying ​​​​or arrange to pay any tax due. For more information, see the about page fine reduction for the first time.

Pay taxes due electronically

It’s a quick and easy way for people to pay their taxes safely through it IRS Direct Payment, debit or credit card or digital bill about yes Online IRS account. Taxpayers can too apply online for a payment plan (including installment agreement).

Taxpayers who pay electronically receive instant confirmation when they send their payment. The Electronic Federal Tax Payment System (EFTPS) and Direct payment They allow taxpayers to receive payment notices by email.

Certain taxpayers are automatically entitled to additional time to file and pay taxes without penalty and interest including:

• Taxpayers in certain disaster areas. Those taxpayers do not need to request an additional time extension; It is granted automatically due to the accident. Information on the latest tax relief for accident situations It is available on the IRS website.
• US citizens and resident aliens Those who live and work outside the United States and Puerto Rico receive an automatic filing extension two months. This year you have until June 17 to submit. However, payments for outstanding taxes are due by April 15th or you will be charged interest.
• Members of the military serving outside the United States and Puerto Rico.
• Members of the army serving in a combat zone They have up to 180 days after leaving the combat zone to file and pay any taxes owed.

Are you owed a refund? Don’t put off tax filing; The deadline for 2020 unclaimed refunds is May 17

Taxpayers who chose not to file a tax return because they didn’t earn enough to meet the filing requirement may lose out on getting a refund for potentially refundable tax credits . Some examples include the Earned income tax credit and the Child tax credit. Taxpayers sometimes fail to file a return and request a refund for these and other credits to which they may be entitled.

There is no penalty for filing after the April 15 deadline if you have a refund. However, taxpayers who still have a refund should consider filing as soon as possible. Each year, the IRS estimates that there are approximately one million taxpayers who may be owed refunds who have not filed tax returns from previous years.

For taxpayers who have not filed a 2020 return, time is almost running out to ask for these refunds. The deadline to file 2020 tax returns is May 17, 2024.

Taxpayers who still need to file a 2023 tax return are encouraged to use e-filing options including: Free IRS fileavailable through October 20 to prepare and file 2023 tax returns electronically.

How to choose a tax professional

Taxpayers who still need to file a tax return may want to consult with a tax preparer. The IRS offers resources to help taxpayers choose a tax professional. Tools like the Directory of Federal Tax Return Preparers with Selected Certifications and Certifications They can help taxpayers find tax return preparers who have professional certification recognized by the IRS or who have met the IRS requirements for the annual filing season program.

Taxpayers Bill of Rights

Taxpayers have basic rights under the law that protect them when interacting with the IRS.