The federal tax deadline was April 15, and if you missed it, you should file your return and pay your balance as soon as possible.
If you still owe taxes for 2023, you'll continue racking up penalties and interest until you file and pay, according to the IRS.is 0.5% per month or partial month, with a maximum fee of 25% of unpaid taxes. Interest is based on the "The longer you wait to file, the bigger the risk of higher penalties and interest from the IRS and state," said Mark Steber, chief tax information officer at Jackson Hewitt.Most retirees don't delay Social Security benefits, study says. Experts say it pays to waitHowever, that doesn't mean you should rush to file a return if you're still missing key information, likeThis may be available if you owe less than $100,000 including tax, penalties and interest.