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The 2024 tax filing deadline may have come and gone, but that doesn’t mean your chance to file has disappeared with it. A significant number of Americans miss the tax deadline every year, some unintentionally and some for reasons tied to financial hardship, personal emergencies or confusion around what they owe. And while missing the tax deadline can feel like a major issue, the worst thing you can do once that April 15 deadline has passed is nothing.
Failing to file your taxes could lead to a cascade of problems, including penalties, interest and in some cases, collection actions, like wage garnishment, tax levies and other serious consequences, by the Internal Revenue Service (IRS). But those hefty consequences aren’t necessarily set in stone. There are still ways to reduce the damage, and potentially avoid some of it altogether, especially if you act quickly and get the right help.
That starts with asking the right questions, whether you’re preparing to file your 2024 taxes after the deadline, either on your own or while working with a tax relief expert.
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Tax questions to ask if you still haven’t filed your 2024 return
If you haven’t filed your 2024 tax return yet, here are the most important things to ask now:
Did I file an extension, and what does that extension cover?
Many people assume that filing a tax extension gives them more time to do everything, but that’s not exactly true. If you filed for a tax extension by the April 15 deadline, that gave you until October 15 to submit your return. But there’s a big catch: the extension applies only to the paperwork, not the payment. If you owe money and didn’t pay anything by April, the IRS has already started charging interest and may have added late payment penalties.
If you’re unsure whether you filed an extension, now’s the time to find out. Check with your tax preparer or log in to your IRS account at IRS.gov. If you didn’t file an extension at all, then you’re likely facing a failure-to-file penalty, which is 5% of your unpaid taxes per month, up to a maximum of 25%. Filing your return as soon as possible, even if you can’t pay yet, will stop that more serious penalty from increasing further.
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How much do I owe, and what happens if I can’t afford to pay it right now?
If the fear of a tax bill is what’s kept you from filing, that’s understandable. But the IRS is often more flexible than people expect, as long as you file. Once your return is in, you can apply for a payment plan, which can break your balance into smaller monthly amounts. If you’re facing financial hardship, you may qualify for Currently Not Collectible status (a temporary pause on collections) or even an Offer in Compromise, which allows you to settle your tax debt for less than you owe. That said, you must file first. The IRS won’t negotiate with you until they have a return on file and a clear picture of your tax liability.
Have I received all the documents I need to file accurately?
A common reason people delay filing is that they’re missing forms, like a W-2 from an old employer or a 1099 from a side gig. But by late spring, you’ve likely exhausted the waiting game. Fortunately, there’s a fix. You can log in to your IRS online account and pull a wage and income transcript. This will show most of the tax forms the IRS has on file for you.
That makes it easier to file accurately and avoid underreporting income, which is a common mistake that can trigger audits and penalties down the line. It’s also a good reminder that even if you don’t have the form, the IRS probably does.
Am I at risk of IRS penalties or enforcement action?
The longer you wait to file and pay, the more you’ll owe thanks to late penalties and daily compounding interest. The failure-to-file penalty is one of the harshest: 5% of your unpaid tax bill per month. That adds up quickly. The failure-to-pay penalty is less severe (0.5% per month), but it still increases the amount you owe over time.
It’s not necessarily too late to request penalty relief, though. The IRS offers first-time penalty abatement if you’ve been compliant in past years. You may also be eligible for reasonable cause relief if you’ve experienced illness, financial hardship or other extenuating circumstances.
Would working with a tax professional make this easier or cheaper in the long run?
Late filings can be tricky. If you’re unsure about how to handle the penalties, tax debt or just need help navigating the process, it might be worth hiring a tax relief expert to help. They can assess your eligibility for penalty abatement, installment agreements or other IRS programs designed for people in exactly your position. Plus, if your taxes are more complex — for example, if you’re self-employed or have multiple income streams — getting professional help could reduce the chance of errors that cost you even more later.
The bottom line
If you still haven’t filed your 2024 taxes, now is the time to stop avoiding it and start asking questions. Whether you’re missing forms, worried about what you owe or are just unsure how to fix it, you have more options than you think, as long as you act now. Filing, even late, opens the door to payment plans, penalty relief and a clean slate moving forward.
