TUCSON, Ariz. (KOLD News 13) - The Internal Revenue Service is reminding taxpayers who missed the July 15 deadline to file as soon as possible to reduce potential penalties.
Some taxpayers may have extra time to file and pay without penalties and interests if:
-They are members of the military who served or are currently in a combat zone.
-They support personnel in combat zones or a contingency operation in support of the Armed Forces.
-They are disaster victims.
Those who qualify may be eligible for a 180-day extension.
The IRS reminds taxpayers that while it continues to process returns, issue refunds and accept payments- delays in processing paper returns will continue due to limited staffing.
Tax returns filed by paper will be processed in the order received. The revenue also reminds people not to re-file paper returns.
If a taxpayer can’t afford to make an immediate payment, they should still file as soon as possible to reduce possible penalties. There is no penalty for filing after the deadline if a refund is due.
Ordinarily, the failure-to-file penalty is 5 percent of the tax owed for each month or part of a month that a tax return is late.
If a return is filed more than 60 days after the due date, the minimum penalty is either $435 or 100 percent of the unpaid tax- whichever is less.
Taxpayers with a history of filing and paying on time can qualify for penalty relief. People can qualify if they have filed and made timely payments for the past three years and meet other requirements.
The IRS encourages anyone making payments to do it electronically. Payments are secure and easy to use and provide immediate confirmation.
Taxpayers can also apply online for a payment plan, including an installed agreement. For more information on these, visit IRS.gov/payments.