Tax Day is coming in less than a week, and if you haven't filed your 2023 taxes yet, you may face costly penalties immediately after the April 15 deadline.
Taxpayers who file their tax returns electronically have until midnight on Tax Day to file. Paper returns must be postmarked by April 15 to not be marked as late.
Despite the IRS expecting to process more than 146 million individual tax returns this filing season, the agency will still notice if you fail to file your returns on time, so here's what may happen if you don't file or pay your taxes on time.
What happens if you don’t file a tax return?
If you fail to file your taxes by April 15 and do not request an extension, the IRS may assess a failure-to-file penalty on the amount of any unpaid taxes.