Late filing

user17581368593 · ‎September 17, 2025

Filing late and owe a good amount. How do the penalties for filing late work and how do payment plans work?

MarionH · ‎September 17, 2025

If you owe taxes and don't have the funds to pay, it's crucial to still file your return. Avoiding filing will only worsen the situation with late payment fees, interest, and possible late filing penalties if you miss the April 15 deadline and didn't file an extension. Filing late incurs a penalty of 5% of unpaid taxes per month (up to 25%) for 2024.

Using TurboTax, you can file your return and select the "Mail My Payment" option. This allows you to file without paying immediately. After your return is processed, you can set up a payment plan on IRS.gov.

For more information on payment plans, visit: IRS Payment Plans FAQs.

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