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Late Filing

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  4. Should I file my tax return by April 15th, even if I can't pay?

Should I file my tax return by April 15th, even if I can't pay?

Yes. There are different penalty and interest calculations incurred for not filing timely, not paying and not paying timely, or when a balance due exists. You will want to avoid the failure to file by the due date when a balance due exists penalty. Therefore, file the tax return by the current years due date, April 15th 20XX, and pay whatever you can at that point in time to minimize your total penalty and interest calculations.

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