Is it okay to file your taxes LATE if you don't owe anything?
Or, are you still penalized with fees?
- 4 weeks ago
If you don't owe tax, there's no penalty or feeSource(s): I'm a tax preparer
- Max HooplaLv 74 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.
- Pepper, PhDLv 61 month ago
There is no penalty for filing late if you don't owe anything, so it is ok.
- STEVEN FLv 71 month 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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- Christin KLv 71 month 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.
- SlickterpLv 71 month ago
Federal, only penalties if you owe.
- rustbucketLv 71 month ago
They have this year extended the filing date so you shouldn't have any problem.
- 1 month ago
I wouldn't know about such things because I always file early since I'm the owner of my company.
- Anonymous1 month ago
There usually is a fine for late filing.
- FireballLv 71 month ago
UNSURE U MIGHT WISH TO CHECK OUT THE FINANCIAL AREA HERE..