Missed the tax deadline? 3 steps you can take next

What to do if you miss the tax deadline

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The April 18th tax deadline has come and gone. If you missed the tax deadline, don’t worry, you can file again. Here are 3 steps to file your taxes today and get your refund.

File now – don’t wait any longer!

If you haven’t filed your taxes yet, don’t panic. You can still fill out the application today. If you wait for your tax refund, which 80% of people do, you won’t get a late filing penalty. Just go online and use e-file with direct deposit to get paid fast.

Don’t think you should include a file? You might still want to.

annually The IRS reports more than $1 billion in tax refunds. Even if you worked to file up to the IRS income threshold ($12,950 single, $25900 Married filing jointly by 2022), you must still file a tax return if you have federal taxes withheld from your paycheck or are eligible for tax credits such as Earned Income Tax Credit.

You must also include the file If you get an advance premium tax credit to help pay for health insurance in the health insurance marketplace.

Use e-file with direct deposit

Even if you miss the deadline, you can still log in online and conveniently file your payments by email with TurboTax. E-filing allows you to receive and process your tax return by the IRS quickly and easily. Plus you too Receive confirmation of receipt of your return.

If you mail your tax return, it will take longer for the IRS to receive and process your return. Electronic file with direct deposit is the fastest way to get your tax refund. The IRS states that they issue nine out of 10 tax refunds within 21 days or less of receipt.

Pay any fees

If you owe money, you’ll want to file as soon as possible to avoid getting a bigger one Penalty for non-payment. If you don’t file an extension in April, you will have a failure rate and a penalty. Although you may be subject to a late filing penalty, your penalty will be less than if you did not file at all. Filing as soon as possible will reduce the interest owed. The longer you wait to apply, the greater the interest penalty.

Some taxpayers delay filing because they have money and don’t know how to pay. If you put off filing for this reason, you can take steps that will be better and cheaper for you.

You should submit as soon as possible, pay what you can and then Request a payment plan from the IRS. The IRS has several options to help you. You can ask for a short-term payment plan, a long-term installment agreement, an offer in compromise, or a temporary payment deferral in some situations. You can set a:

  • Short-term payment plan: You should choose this plan if you can pay what you owe within 180 days (within the 120 days provided by the Taxpayer Relief Initiative).
  • Long Term Installment Agreements: This plan allows you to pay off what you owe over six years.
  • Installment Agreement: If your total taxes, penalties and interest are up to $50,000, you can request an installment plan online.

TurboTax has you covered

Don’t worry if you miss the deadline, you can still submit your application TurboTax. TurboTax will cover you and ask you simple questions about yourself and give you deductions and credits you can claim based on your answers. You can also go to TurboTax and * get your taxes done for you in one day TurboTax Live Full Service. Your full-service expert will process your payments in real-time and guarantee the biggest payout. TurboTax Live tax experts are available in English and Spanish year-round.

* You must have your documents and meet with an expert before they can prepare your taxes.

Victims of recent federally declared disasters have been directed to file and pay taxes. You can learn about specific extended deadlines in our IRS deadline extensions for tax year 2022 article.

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And you will get the best result, guaranteed.

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Lisa Green-Lewis
Lisa Green-Lewis

Lisa has over 20 years of tax preparation experience. His success is attributed to interpreting tax laws and helping clients better understand them. He held the positions of public auditor, controller and operations manager. Lisa has appeared on The Steve Harvey Show, The Ellen Show and major news programs to break down the tax laws and help taxpayers understand what the tax laws mean for them. For Liz, providing taxpayers with timely and accurate information to help them keep more of their money. More from Lisa Green-Lewis

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