One thing we don’t want is penal­ties and anoth­er is being late fil­ing our tax­es, and that’s in either case get­ting a refund or owing the irs.  Late fil­ing penal­ty comes from doing your tax­es after the last tax day. The last tax day nor­mal­ly is April 15th depend­ing on the day of the week it lands on. This penal­ty will also accrue if you didn’t file an exten­sion which gives you anoth­er 6 months to file your tax­es. Here are some   use­ful infor­ma­tion and a  few things you should know about fil­ing late tax­es.

You need to use form 4868 to request an exten­sion for your taxes.(very easy and sim­ple)

This penal­ty alone will cost you 5 per­cent of the unpaid tax­es every month you didn’t file your tax­es and they are late ( it adds up just file 4868)

YOU WOULDN’T BELIEVE but this fee starts the fol­low­ing day that your tax­es are due, and you didn’t file. The IRS is on there ish and wants there mon­ey asap.

The penal­ty will nev­er be more that 25 per­cent of the tax­es you did­nt pay.

There is a late fil­ing penal­ty and late pay­ment penal­ty and the fil­ing penal­ty is much high­er
-so if you cant pay dont let that be a rea­son you dont file.