If you missed the April 15 IRS tax filing deadline, don’t panic—you’re not alone. There are ways to reduce potential penalties and interest, as well as processes in place for late filers.

Depending on your situation, you may be able to minimize the financial impact. Here’s what to do next if you’ve missed the tax deadline.

1. File Your Tax Return ASAP

Even if you’re past the deadline, the most important thing is to file your tax return as soon as possible. The IRS imposes a Failure to File Penalty, which is typically 5% of the unpaid taxes for each month your return is late—up to 25%. Filing sooner rather than later stops the penalty from growing and demonstrates good faith.

2. Pay What You Can to Reduce Penalties

If you owe taxes, try to pay as much as you can when you file. The Failure to Pay Penalty is generally 0.5% of your unpaid taxes per month. Partial payments reduce the interest and penalties that accrue over time. If you’re unable to pay the full amount, consider setting up a payment plan with the IRS through their Online Payment Agreement tool.

3. Check If You Qualify for Penalty Relief

In some cases, you may qualify for IRS penalty abatement. If this is your first time missing a filing deadline, or if you have a valid reason like a natural disaster or medical emergency, the IRS may waive certain penalties. Ask your tax advisor about requesting First-Time Penalty Abatement or other forms of relief.

4. If You’re Due a Refund, You Won’t Be Penalized

Good news—if the IRS owes you money, there’s no late filing penalty. However, you must file within three years to claim your tax refund. After that window, the refund is forfeited. Don’t leave your money on the table—file now and get what’s yours.

Need Help Navigating Late Tax Filing?

Missing the tax deadline can feel overwhelming, but you still have options. Contact our experienced tax professionals today to get guidance, reduce stress, and avoid unnecessary penalties. Whether you need to file late taxes, explore IRS payment plans, or seek penalty relief, we’re here to help you move forward.