People who asked for an extension should file on or before the extension deadline, October 15, to avoid the penalty for filing late.
There are a couple exceptions to this deadline including:
- Members of the military and others serving in a combat zone. They typically have 180 days after they leave the combat zone to file returns and pay any taxes due.
- Taxpayers in federally declared disaster areas who already had valid extensions. For details, see the disaster relief page on IRS.gov.
There is usually no penalty for failure to file if the taxpayer is due a refund. However, people who wait too long to file and claim a refund, risk losing it altogether. Those who have yet to file a 2020 tax return, owe tax, and did not request an extension can generally avoid additional penalties and interest by filing the return as soon as possible and paying any taxes owed.
Need tax help? Give us a call at (816) 524-4949 or visit our website to speak with an attorney.