WASHINGTON, D.C. — The Internal Revenue Service (IRS) is reminding taxpayers who missed the April 15 filing deadline to submit their tax returns promptly to limit penalties and interest on unpaid taxes. While extensions provide additional time to file, they do not extend the deadline for tax payments.
The IRS advises taxpayers who owe taxes to file their returns and pay as much as they can, even if they cannot pay the full amount immediately. Interest and penalties continue to accrue on unpaid balances until they are fully settled. The IRS offers online payment plans, including installment agreements, and electronic payment methods like IRS Direct Pay and the Electronic Federal Tax Payment System (EFTPS).
Taxpayers with a history of timely filing and payments over the last three years may qualify for penalty relief. For guidance, the IRS directs taxpayers to the Penalties page and Administrative penalty relief page on IRS.gov.
For those due a refund, the IRS notes there are no penalties for filing late. Failing to file could lead to missing out on refundable tax credits, such as the Earned Income Tax Credit and Child Tax Credit. The IRS estimates that millions of taxpayers forego refunds annually by failing to file. Refund tracking is available through the “Where’s My Refund?” tool on IRS.gov, the IRS2Go mobile app, or the automated refund hotline.
Taxpayers can still take advantage of IRS electronic filing options, including IRS Free File, which will remain accessible on IRS.gov through October 20.
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