What to do if you didn’t file a tax return

If you did not file your taxes by the original due date (typically April 15th), you should still file your return as soon as possible. The longer you wait to file, the more penalties and interest you will be charged by the IRS. There are two main advantages to filing a late tax return and paying your back taxes. First, if you are owed a tax refund, you must claim in within 3 years of the return’s original filing deadline. Otherwise, you risk losing that refund altogether. Second, if you are self-employed and have not filed a return, you will not receive any credit towards Social Security benefits since your self-employment income has not been properly reported to the Social Security Administration.

 

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