What if You Did Not File On Time?


        This is a post for those who, for one reason or another, did not file their Tax Return on time. This does not include those who have filed extensions, because they would not be considered late. What should everybody else do? Here are some practical steps that will save you stress and money.
          Do not panic. This might seem like a strange point to make, but it is helpful. Thinking too much about a missed deadline will keep you from moving forward and making progress. Just deal with the situation at hand. File as soon as you can. If you have a Refund coming, there will be no penalty for filing late. However, if you owe a Tax Debt, penalties and interest are determined by how late the Tax Return is filed. Either way, it is in your best interest to get this done promptly.
          Find a Qualified Tax Professional. Since the Tax Season is over, many seasonal Tax Pros are closing up shop, only to reappear next year. For situations like this, you will want to find someone who is available all year, able to handle any potential issues with a late Tax Return, and someone that you trust. Once you find them, get started immediately to find out what your tax situation is.

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