Not if you are getting a refund.
cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
New Member

I am filing late, is there any penalty?

 
3 Replies
Level 15

I am filing late, is there any penalty?

Not if you are getting a refund.
Highlighted
Level 7

I am filing late, is there any penalty?

But filing late could make you ineligible for some elections on the tax return.
Highlighted
Level 15

I am filing late, is there any penalty?

If you are getting a refund there is not a penalty for missing the deadline.  If you owe tax due, however, you are subject to a late filing penalty and interest which will be based on how much you owe and when you file your return and pay.  TurboTax will not calculate that. The IRS will calculate it and bill you.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
Privacy Settings