What Happens If I Miss the Deadline to File My Tax Return?
The IRS has extended the filing of the 2020 income tax returns to May 17, 2021. However, if you live or do business in LA, TX or OK, then you have an extended time to file to June 15, 2021.
If you miss the May 17 deadline (extended June 15 deadline for residents of LA, TX & OK only) to file your tax return and pay any taxes you owe to the federal government, the IRS will assess and impose penalties against you. In some cases, penalties and interest can accrue to be worth as much as 40 percent of your tax liability – nearly doubling what you owe.
While it’s possible to remove or reduce penalties in some cases, it’s not always easy and certainly never guaranteed. This is why you should seek the assistance of an attorney for filing tax returns near Baton Rouge to help you ensure your tax return is prepared accurately and in time to file.
Reach out to Our Tax Professionals for Help
Our attorneys and accountants want to help people feel more confident about filing their tax returns. That is why we offer our experienced legal advice to help you resolve your most complex tax issues.
You may have experienced a change in your life that makes filing more complicated this year than in years prior. Rest assured that our tax experts have what it takes to provide the guidance and services you need to file with confidence.
Reach out to Alpha Tax Relief Specialists L.L.C. for a free consultation by contacting us online.