If you file taxes late and are due a refund, there is no penalty for failure to file. However, you cannot obtain a refund without filing a tax return. If you wait too long to file, you may risk losing the refund altogether. In cases where a return is not filed, the law provides most taxpayers with a three-year window of opportunity for claiming a refund. Therefore, it is important to file your tax return as soon as possible to avoid losing your refund.

It is worth noting that if you owe tax and your return was not filed by the due date, you may be subject to the failure to file penalty, unless you have reasonable cause for not filing. If you did not pay your tax in full by the due date for the return, you also may be subject to the failure to pay penalty, unless you have reasonable cause for your failure to pay. Additionally, interest is charged on taxes not paid by the due date. The longer you delay, the larger these charges grow, and it may result in penalty and interest charges that could increase your tax bill by 25 percent or more. Therefore, it is important to file your tax return as soon as possible, even if you cannot pay the full amount owed.

If you missed the tax deadline, you can still file your tax return as soon as possible to avoid further penalties and interest charges. You can also contact a tax professional or the IRS for help with filing delinquent returns. If you are unable to fully pay any tax due on the late returns, do not let this prevent you from filing as payment options may be available.