What Happens if You File Your Taxes Late?

If you file your taxes late, don’t worry. The IRS will let you know. If you know that you’re going to be late, then you should file an extension on your taxes. This is due by April 15 and for most places, it only takes a simple call to your tax preparer for them to submit it for you. If you don’t file an extension and you know that you’re going to end up owing instead of getting a refund, watch out for the interest rates. They’ll also throw in a fee for not filing. Be aware because it’s not only Federal that you have to look out for, the state you live in will get you too.