You procrastinated too long and failed to file your taxes by the deadline. You didn't put aside enough to pay the tax, and now you will probably have a failure to pay penalty.
Common penalties include:
- Failure to file - when you don't file your tax return by the return due date, April 15th, or extended due date if an extension to file is requested and approved.
- Failure to pay - when you don't pay the taxes reported on your return in full by the due date, April 15th. An extension to file doesn't extend the time to pay.
- Failure to pay proper estimated tax - when you don't pay enough taxes due for the year with our quarterly estimated tax payment, or through withholding, when required.
- Dishonored check - when your bank doesn't honor your check or other form of payment.
Contact us for a free consultation to see if you may qualify for a Penalty Abatement.