Missed the IRS tax filing deadline? Here are 5 steps experts say to take now.
You're not alone if you missed this year's
April 15 tax filing deadline
. Millions of Americans find themselves in this position each year, for reasons ranging from simple oversight to life events.
While the IRS imposes penalties for
unfiled taxes
and delinquent filing, it's not too late to deal with the situation. Tax professionals emphasize that addressing it promptly can minimize consequences and open pathways to resolution. Below, they detail specific steps to take if you're among those who missed the deadline.
Start tackling your existing tax debt here now
.
These five expert-recommended moves can help you get back on track with the IRS:
"File as soon as possible to minimize failure-to-file penalties, which are 5% per month (or portion of a month) on any unpaid taxes," warns Miri Forster, partner and national tax controversy leader at Eisner Advisory Group, LLC, an accounting, tax and business advisory firm.
Filing promptly is essential even if you're expecting a refund instead of owing money. You'll have up to three years to secure your refund before it's forfeited. "[Electronic filing] with direct deposit [is] the fastest way to get your refund," says Lisa Greene-Lewis, a certified public accountant and tax expert at TurboTax.
Get started with your taxes today
.
The IRS has issued
tax help for victims of major disasters
, including hurricanes and wildfires. If you live in one of the affected regions, you may be eligible for an extension for your 2024 tax returns and payments. For example, Los Angeles residents affected by the January wildfires may have until October 15, 2025, to file taxes.
Experts, including Forster, encourage making your tax payment quickly to reduce late filing and late payment fees. The failure to pay penalty is 0.5% of the tax owed after the due date — for each month or part of a month the tax remains unpaid — up to 25%.
Short on funds? Stephen A. Weisberg, principal attorney at tax defense company The W Tax Group, emphasizes that partial payment is better than no payment. "The more you pay on what you owe, the less the failure-to-pay penalty [you'll get]," he explains.
Assuming you file your return on time and set up an IRS installment agreement, the penalty rate drops from 0.5% to 0.25% monthly. This reduction alone could save you money while you pay off your tax debt.
The IRS offers several payment plans and
relief services
if you can't pay your full tax bill right away:
"[Get] help the minute you realize you need [support in] filing your return and [won't] be able to pay what you owe," urges Weisberg. He recommends seeing a tax attorney, a certified public accountant or an enrolled agent. These three designations are the only ones recognized to represent taxpayers with IRS debt. Research the
top tax relief companies
and be cautious of ones making promises that sound too good to be true.
Falling behind on taxes doesn't have to be a financial catastrophe. "Work with a tax advisor to file them quickly and explore options to minimize penalty exposure," suggests Forster. Without your filed return, the IRS may create a
substitute return
that omits your eligible credits and deductions, potentially leaving money on the table that should be yours.
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