Anonymous
Anonymous asked in Business & FinanceTaxesUnited States · 4 weeks ago

Is it okay to file your taxes LATE if you don't owe anything?

Or, are you still penalized with fees?

14 Answers

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  • 4 weeks ago

    If you don't owe tax, there's no penalty or fee

    Source(s): I'm a tax preparer
  • 4 weeks ago

    You will be charged 5% of zero.  If your return is audited in the future the late filing penalty will be added to the additional tax.

  • 4 weeks ago

    There is no penalty for filing late if you don't owe anything, so it is ok.

  • 4 weeks ago

    For US Federal income taxes, penalties for not fling on time are calculated as a % of the amount you owe.

    I won't say it is OK to file late, but the penalty would be X% of $0.00.

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  • 4 weeks ago

    Simply file for an extension. That will wipe out any penalties. But if you don't owe any tax, then you can't be assessed any penalties--however, you may be audited. 

  • 4 weeks ago

    Federal, only penalties if you owe.

  • 4 weeks ago

    They have this year extended the filing date so you shouldn't have any problem.

  • I wouldn't know about such things because I always file early since I'm the owner of my company.

  • Anonymous
    4 weeks ago

    There usually is a fine for late filing.

  • 4 weeks ago

    UNSURE U MIGHT WISH TO CHECK OUT THE FINANCIAL AREA HERE..

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