Do you owe taxes, but haven’t filed your 2019 return yet? Act now to avoid larger penalties that, by law, start after Sept. 14. (The tax deadline was July 15 this year due to the pandemic.) Taxpayers who didn’t request an extension, and still owe taxes, face both the “failure to file” and the “failure to pay” penalties. You should file now and pay what you can. Here’s another scenario: If you did submit an extension, you have until Oct. 15 to file, and you don’t face the “failure to file” penalty if you file your taxes by that deadline. (An extension to file isn’t an extension to pay so you still may owe penalties for that.) In either situation, contact us; we can help. © 2020