The penalty for filing a late tax return can be significantly higher than the penalty for paying your taxes late. If you did not file and you owe taxes, a return should be filed as soon as possible to reduce penalties. Penalties are usually based on a percentage of the tax owed, plus interest. If you are due a refund, there is no penalty for late filing.
Feeling overwhelmed? EZ Accounting can help. Call 520-318-4912.