Here’s what can happen:

✅ Late Filing Penalty – If you owe taxes and file after the due date without an extension, the IRS may assess a failure-to-file penalty.

✅ Late Payment Penalty & Interest – If taxes remain unpaid after the due date, penalties and interest can continue to accrue until the balance is paid.

✅ You Still Have Options – Even if you can’t pay your tax bill in full, filing your return on time (or as soon as possible) can help reduce penalties. The IRS also offers payment plans for many taxpayers who qualify.

📌 The most important step is to file your return—even if you can’t pay the full amount. Filing on time can significantly reduce the penalties compared to not filing at all. If you’ve missed a deadline or received an IRS notice, don’t wait. E&L Tax Services, LLC can help you understand your options, respond to IRS notices, and get back on track.

📞 Contact us today to discuss your situation.