We Stop IRS Bank And Wage Levies in as soon as 24 Hours!

What happens if I file my taxes late

FREE Tax Analysis by the End of Your Call

Contact Us!

    What happens if I file my taxes late?

    Table of content

    • What happens if I file my taxes late?
    • Why do people file their taxes late?
    • How much money will I owe for filing taxes late?
    • How is the Failure to File penalty calculated?
    • Can I reduce or remove a penalty from my taxes?
    • How to apply for an Extension of Time to File?
    • How to apply for a Payment Plan?
    • How do I file my late taxes?
    • Can you still file taxes after the deadline?
    • How many years late can you file taxes?
    • What happens if I miss the tax deadline?
    • Can I file two years of taxes at once?
    • How do I file taxes from prior years?

    Let’s start from the top.


    How do I file taxes from prior years?

    It comes around every year like clockwork and, although we know when to expect that dreaded bill, many of us still file our taxes late. It’s doubtful that any of us actually plan to file our taxes late, but sometimes it is out of our control. So what happens when we file our taxes past the return due date?

    This article will aim to answer all of the questions you might have about late tax filing while providing you with some valuable advice so you can better prepare for next year’s taxes.

    Why do people file their taxes late

    Why do people file their taxes late?

    According to a survey done by IPX1031, tax procrastination is a huge reason why many Americans file their taxes late or at the last minute each year. As many as 33% is the estimated number of late filers. What were their reasons for procrastination? First, about 40% of those filing late reported that they found their taxes too time-consuming, 22% found it too stressful, 22% want to make sure it’s correct, 10% feel no rush because they won’t be getting a refund, and 6% are worried they’ll owe money.

    It’s interesting to point out here too that, although many were afraid to file or found it too time-consuming, the average federal refund amount in 2020 was $2,707. That’s almost 3 grand that the government has likely overtaxed you throughout the year and they get free reign to spend that money interest-free until you do your taxes. The longer you wait, the longer they can utilize your money. If that’s not reason enough to file your taxes early, the fine you’ll likely get stuck with might be.

    How much money will I owe for filing taxes late?

    The best option to ensure you’re not late with your taxes next year is to work with a financial advisor ahead of time. This way, when that May cut-off day comes around, you’ve already filed and, hopefully, are enjoying a much-needed refund. Do you need help ensuring that you don’t get caught with an unexpected tax bill next year? Our experts are leaders in tax planning and time management. Reach out for a conversation with Ideal Tax today.

    We provide professional guidance to people whose lives have been affected by tax problems. To evaluate your specific tax issue and determine if you qualify for tax relief,  please contact us for a free consultation. We are COVID-19 prepared, we will work with you over the phone and via e-mail.

    The content of this post does not replace the advice of a licensed tax professional. Consult a qualified tax professional for questions specific to your circumstances.


     Based on over 140 Google reviews


    Shard Patterson / February 2-2022

    Thanks, Ideal Tax awesome job.

    Read more

    I been dealing with Ideal tax solution for some years now, the first person that was doing my case was not up to par. I was not getting results and the IRS was coming back at me, but the new case manager that took over my case came in with an iron fist and took on my case. The end result was she fought and got my tax issue resolved for less than $100.00 awesome job.


    Maria Ceja / January 29-2022

    They are super professional and helpful

    Read more
    Ideal tax has helped me resolve my IRS tax liability. My case managers Elizabeth and Rachel were super professional and helpful. They helped my every step of the way and were there to answer all of my questions. Rachel even stayed with me on the line helping me sign the final letter. Thank you Ideal Tax

    Omar Al-masri / December 21-2021

    Honest and Reputable Firm

    Read more
    Honest and Reputable Firm. Did as they say they would with my IRS case. Had past experience with 2 other tax companies and were horrible experiences. Highly Recommend if you have a tax debt that you need addressed through the Fresh Start Programs.

    Mildred Tobias / November 15-2021

    I was very pleased with the staff from start to finish.

    Read more
    I was very pleased with the staff from start to finish.
    Everyone was very professional yet showed so much compassion. Not meeting anyone in person, you felt their need wanting to help you in their voices. I am so pleased I found this group (Ideal Tax Solution) and highly recommend them for your tax issues.
    Thanks again guys for being there, take care and be safe.

    Tax Problems Don’t Solve Themselves.

    Put it behind you with help from the experts at Ideal Tax

    We Help Individuals & Businesses Across the Country

    When you work with Ideal Tax, you can finally rest assured knowing that you will receive the most efficient tax resolution plan that is legally possible.

    Settlement results

    Our Services

    We Take On the Hard Stuff For You, And We Get Results!

    Tax Relief, FAQ

    What Is Tax Relief?

    Tax Relief is about setting up a payment schedule or negotiating a settlement with the IRS. This is not about getting rid of your tax obligations. It’s more about helping you to pay off your tax debt. 

    How To Find The Best Tax Relief Help?
    • Are they qualified to offer tax relief services? While the IRS requires that a representative be licensed as an attorney, CPA, IRS Enrolled Agent or attorney, that doesn’t make them eligible to provide such services. Tax relief is a highly specialized area in tax law. It is crucial to ensure that the professional or firm you choose has the experience and knowledge necessary to provide the best results.
    • Are the tax professionals licensed to own the company? There have been many tax relief companies that have emerged to capitalize on the growing demand for their services. However, they may not adhere to the legal and ethical compliance requirements of professional licensure. There can be a temptation for firms not to adhere to the rules of licensed ownership. This could lead to a tendency to prioritize sales goals over ethical business practices.
    • What’s their reputation? This is a difficult question because companies who promote themselves online will put information that they want you to see, and exclude the information they don’t. It is important to use objective and independent sources. To see what customers have to say about their experiences with a company, check out the Better Business Bureau and Ripoff Report. Avoid sites such as “Best of”, where companies pay to be included in a positive manner.
    Tax Attorney, CPA Or Enrolled Agent?

    Experience and performance are more important than any type of license to provide the best representation. A Tax Attorney can represent taxpayers in Federal Tax Court. However, very few cases involving back tax end up there. Most cases can be resolved by the IRS administrative process. It is therefore important to hire a representative who is both familiar with the Internal Revenue Manual, IRS Tax Code and is skilled in applying the rules. It is important to be able to talk to the potential representative and not just a salesperson to make the best decision.

    How Much Does Tax Relief Cost?

    Tax relief services can cost anywhere from a few hundred to thousands of dollars. It all depends on the type and number of services you need. The cost of tax relief services can also vary depending on the person you choose to represent you and how they bill you.

    Will I Qualify For A Tax Settlement?

    The IRS is the only entity that can make the final decision. However, qualified tax relief professionals can help you determine if your situation qualifies for the program. Our CPAs, EAs have been able to determine whether clients are eligible for the program with an accuracy of more than 90%. OICs that are successful average savings of 95% on the balance owed.

    Will Tax Relief Solve My Tax Problem?

    Reputable tax relief companies will conduct a thorough assessment of your situation with licensed tax relief professionals. They will assess your situation and determine the best programs for you. If done correctly, you will get a clear idea of what is possible.

    Contact us

    It is a long established fact that a reader will be distracted.