WebPenalty for late filing of income tax return is not levied for all the cases and depends on the discretion of the Assessing Officer. Apart from the penalty amount, there are some more drawbacks of late filing. Interest on the refund will not be given for late filing No revision of the return is possible in case any error is found
How Do I File Returns for Back Taxes? - TurboTax
WebFeb 12, 2024 · However, there are both pros and cons involved with filing for an extension. Pros. Reduce late penalties. Preserve your tax refund. Fund a self-employed retirement plan. Take extra time to make elections. Improve the accuracy of your return. Reduce your tax preparation fees. Cons. Web1 day ago · Nearly 9,000 in Hawai‘i haven’t filed their 2024 taxes. About 8,800 Hawai‘i residents are eligible for an average refund of $932, totaling up to $9.2 million, according … over chair table
Can I file my taxes late? wusa9.com
Web2 days ago · So in this regard, it doesn't matter if you're one day late or 29 days late with your tax return -- you'll still risk being penalized 5% of your unpaid tax bill if you submit … WebJan 13, 2024 · The late filing penalty is 5% of the additional taxes owed amount for every month (or fraction thereof) your return is late, up to a maximum of 25%; If you file more than 60 days after the due date, the minimum penalty is $435 (for tax returns required to be filed in 2024) or 100% of your unpaid tax, whichever is less; Late payment penalties ... WebApr 13, 2024 · NEW YORK (AP) — The deadline to file your taxes is Tuesday, which is just around the corner. Filing U.S. tax returns — especially for the first time — can seem like … ralph and lauren polo shirts