Late Tax Returns

Missed the Tax Filing Deadline?

If you have missed the IRS tax filing deadline without filing an extension, you need to file as soon as possible before the IRS files for you. If you fail to file, the IRS can file a substitute return for you. Unlike a tax preparer, the IRS that won’t include credits or deductions that could help reduce the amount you owe or maximize your return.

Should I file for a tax extension

If you need more time to file your taxes you can file for an extension BEFORE the deadline, an extension is good for an additional 6 months and eliminates the failure-to-file penalty. An extension does not, however, give you an extension of time to pay taxes owed and you will be asked to estimate how much you're going to owe the IRS. The unpaid balance with accrue interest and penalties, however these penalties are far less than the ones for not filing at all.

Late filing fees if you owe taxes.

If you do not file taxes by the deadline, you may face a failure-to-file penalty. If you do not pay taxes owed by the deadline you may have to pay a failure-to-pay penalty which is generally less severe than a failure-to-file penalty as the IRS will work with if you are struggling to pay taxes owed on time. The failure-to-file penalty, however is usually 5 percent of the unpaid taxes for each month or part of a month that a tax return is late. That penalty starts accruing the day after the tax filing due date and will not exceed 25 percent of your unpaid taxes.

You will not have to pay a late-filing or late-payment penalty if you can show reasonable cause for not filing or paying on time but it is not guaranteed that the IRS will grant your request.

Late Fees if you are Getting a Refund

If you are owed a refund, there is no penalty for filing your tax return late, even without an extension as the penalty for filing late is a percentage of the tax owed. Just remember that you don’t get your tax return until you file.

Get back in good standing with the IRS

Paramount Tax can help you file late tax returns and navigate your options if you are faced with penalties. Contact our accounting firm for a free consultation to help file taxes late.



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Ron and his team were amazing! We used them this year for our taxes and boy did he not disappoint!! We knew we were gonna have to owe money this year, but he helped drop our amount, and gave us great tips for next year! Highly highly recommend Paramount Tax and accounting!
— kimberlee Schubert, Posted February 19th 2025 on google
First Class service with a heart of gold! Thank you Ron
— Val, Posted February 18th 2025 on google
I have used Paramount for two years now. They have been attentive to my concerns and questions. Last year, Doug went over my return twice to find additional deductions. Talena is quick to respond to my questions.
— Rich Robison, Posted February 18th 2025 on google
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— Isaac Parker, Posted February 18th 2025 on google
We met with Jon and Braden today to file our 2024 taxes and they were both amazing. They were both very knowledgeable and walked us through every section of our taxes, including small business filing. We will absolutely continue to use them in the years to come.
— Bonnie Grigoratos, Posted February 17th 2025 on google
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They are very patient and thorough. As someone who doesn’t know what they’re doing this was very important for me. They took the time to explain options and put forth more effort than the last two companies ive worked with.
— Alex Croteau, Posted February 16th 2025 on google
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Excellent job, helped out a lot. Fair price for the service.
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Fair, knowledgeable, efficient and kind. We are repeat customers because of the professional job they did for us last year.
— Perri Marlowe, Posted February 10th 2025 on google
Making an appointment was easy and they helped guide us through the tax process and complete our return. They helped us identify ways to reduce our tax burden. Thank you!
— Adam Humpal, Posted February 8th 2025 on google
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