Missing a tax filing deadline can feel like a minor slip, but the financial consequences can snowball quickly. The IRS imposes strict penalties on taxpayers who fail to file on time, and those penalties grow with every month that passes without action. Knowing how these penalties work, whether you owe any and what options you have to dispute or reduce them can make a meaningful difference in how much you ultimately pay.
A financial advisor can help you evaluate your options for reducing penalties and develop a strategy to get back on track with the IRS.
What Is the Penalty for Not Filing Your Tax Return?
If you miss the tax filing deadline…
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