Those who put off their filings With, may have to deal with tax late fees and other problems Investment property exchange services The report states that more than 31% of workers admit to waiting to pay their taxes. Therefore, it is important to know your 2025 filing deadline Tax returns
2025 US tax returns: When are taxes due and what happens if you miss the date? (pixels)When are taxes due and what happens if you miss the date?The tax filing deadline is Wednesday, April 15. Failure to file a tax return by the deadline can prove costly.
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“First, you may face a failure-to-file penalty. This is equal to 5% of the tax you paid less any available credit, charged monthly for up to 5 months,” read Loyalty website. “If you are more than 60 days late, the minimum penalty is the lesser of 100% of the tax you owe or $485.”
“You may also incur a failure-to-pay penalty. This is assessed at a small rate of 0.5% of your unpaid tax, but is reapplied each month until you max out at 25% of your unpaid balance,” Fidelity continued. “If you incur both penalties in a given month, the failure-to-file penalty is reduced so that you pay no more than 5% of the penalty per month.”
D The IRS has created a process for making a request Tax filing extension through various methods. Either of these will push your tax filing deadline to Thursday, October 15.
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“Use IRS Free File To electronically request an automatic tax-filing extension,” the IRS’s Tax Filing Extension website states. “To request an extension By mail, file Form 4868, Application for Automatic Extension of Time to File U.S. Personal Income Tax Return”
“You can file online, by mail, with an IRS e-filing partner or through a tax professional,” it added.
Individuals must submit a tax filing extension request form by April 15 before tax season.
