Today – April 15th – is the income tax filing deadline in the U.S.
Here in Canada, we still have until the end of the month. Perhaps we get a little longer to figure things out because we pay more tax than our American friends? ;-)
Anyway, I'm curious about late tax filing in the U.S., and I'm sure a few others are too!
So, here are my questions about not filing a personal income tax return on time:
- If you don't owe money, do you need to file on time? Do you even need to file at all?
- If you do owe money and don't file on time, what are the penalties?
- Are some individuals specifically permitted to file late? If so, why?
- Is there a way to ask the IRS for an extension for special circumstances?
- Are there any other consequences to filing late?