Filing late?

  • Follow Local Business

Here's what you need to know if you missed the April 15 deadline to file your tax return with the IRS.


The IRS pays attention to postmarks. Don't let the fact that the IRS is dealing with millions of returns fool you. They'll notice if it has an April 16 postmark or later, IRS spokesman Mark Green said. Penalty assessments are based on the amount of tax liability.


The late filing penalty is 10 times greater than the late payment penalty. The late filing penalty is 5 percent per month (up to 25 percent) of the tax due. The late payment penalty is 0.5 percent per month.


Those expecting a refund don't need to fill out an extension to file their tax return late, Mr. Green said, though filing a 4868 is a good measure in case you owe taxes.


If you filed an extension, it delays your filing deadline to Oct. 15. However, your extension was not an extension to pay. You still need to send in at least 90 percent of the estimated taxes you owe with the form.

Top headlines

Body found in Clark Hill Lake

About 4 p.m., the Lincoln County Sheriff's Office responded to a call that a white male, around 35-years-old, had been found near the Chamberlain's Ferry Boat landing area, according to Lincoln ...