April 15 may have come and gone, but if you forgot to file your taxes, you still have time to fix it. In the United States, thousands of people miss the deadline every year due to carelessness, stress, or simply because they didn’t know they had to file. If you’re in that group, don’t worry: you’re not alone, and it’s not too late to take action.
The important thing now is not to sit still. The more time you let pass, the more complicated the matter can become. The IRS imposes penalties for not filing or not paying on time, and those fines grow with each passing day. But if you act soon, you can reduce the damage and even avoid some of it.
Plus, if you are owed a refund and did not file a return, the IRS does not penalize you for the delay. However, you have three years to claim that money. If you miss that deadline, the refund disappears. And it’s a shame to lose money that is yours just because you didn’t do some paperwork.
What to do if you missed the IRS deadline to file
The first thing to do is get started. Gather all the documents you need: W-2 forms, 1099 forms, receipts for deductible expenses, and everything else you usually use each year. Once you have everything, you can file your return online or send it by mail. You don’t need to have requested an extension to file after April 15.
If you owe money, the IRS has probably started applying penalties. Here are the most common ones:
- Penalty for not filing on time: This can be 5% per month on the amount owed, up to a maximum of 25%.
- Penalty for not paying: 0.5% per month on the outstanding balance.
- Interest: This accrues until you pay off the debt.
If you can’t pay everything at once, there is an option: request a payment plan online. It’s easy to apply for and allows you to pay off what you owe little by little, without the debt spiraling out of control. It also shows your willingness to comply, something the IRS tends to value.
Are you expecting a refund? Don’t wait around. You can claim it until April 2028, but the sooner you do, the sooner you’ll get your money. And hopefully without any hiccups.
How to avoid problems with the IRS next year
If you were caught off guard this year, now might be the perfect time to get organized for next year. Here are some ideas to help you avoid missing the deadline again:
- Mark the next tax season on your calendar.
- Set reminders on your phone a few weeks before April 15.
- Check that your withholding is correct so there are no surprises.
- Consider talking to an advisor if your employment or family situation has changed.
- Use the IRS website to open an account and monitor your tax history.
And if you can, file early next year. You’ll save yourself stress, avoid mistakes, and if you’re getting a refund, it’ll arrive faster.
In this sense, if you didn’t file on time, it’s not the end of the world. But it is time to catch up. The sooner you do, the less hassle you’ll have, and if the IRS owes you money, you can still get it back. Just take the first step.