Federal Tax

Did You Miss the July 15 Deadline?

Some people missed the July 15 federal tax filing deadline. If a person is entitled to a refund, there’s no penalty for filing late. But if there’s a balance due, penalties and interest began accruing on unpaid taxes on July 16, 2020. The IRS urges anyone who owes tax and didn’t file (and didn’t request an extension) to file as soon as possible. If a penalty is charged for late filing, there may be penalty relief by calling the IRS at the phone number on the penalty notice. Also, certain taxpayers are permitted extra time to pay, including some disaster victims, military service members and eligible support personnel in combat zones. Here’s more from the IRS. For more info, contact Cg. © 2020