People who postpone filing tax returns Taxes may have to deal with late fees and other issues. investment property exchange service More than 31% of workers report admitting to waiting on taxes. Therefore, it is important to know the 2025 filing deadline. Tax return.
When is the deadline to pay taxes? What happens if I miss the deadline?
The tax filing deadline is Wednesday, April 15th. Not filing your tax return on time can cost you a lot of money.
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“First, if you fail to file, you may be subject to a penalty, which is equal to 5% of the unpaid tax minus any available credits, and will be charged monthly for up to five months.” Fidelity website. “If you are more than 60 days late, the minimum penalty is 100% of the tax owed or $485, whichever is less.”
“Failure to make a payment may also result in a penalty being assessed. This penalty will be assessed at a lower rate of 0.5% of the unpaid tax, but will be reapplied monthly until it reaches 25% of the unpaid balance,” Fidelity continued. “If you have to pay both fines in a given month, the non-declaration fine will be reduced, so you won’t have to pay more than 5% of the fine each month.”
of The I.R.S. Tax return extension Through various methods. If any of these occur, the tax filing deadline will be postponed until Thursday, October 15th.
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“use IRS Free File You can electronically request an automatic tax return extension from the IRS Tax Return Extension website. expansion email, file Form 4868, Application for Automatic Extension of Filing Deadline for U.S. Individual Income Tax Return”
“You can file by mail, online through an IRS e-filing partner, or through your tax professional,” it added.
Individuals must submit a tax return extension request form by April 15 of tax season.