Tax Terror: What to Do If You Have Not Filed Taxes the Day After Tax Day

Life can get hectic at times, which means that you can miss important deadlines. One of the major deadlines in most adults' lives is tax day. Though taxes are due on a specific day each year, many people miss filing taxes by the deadline. If it is the day after taxes were due and you are just now realizing that you missed the deadline, you may be wondering how to take action. Here is the action that you need to take if you miss a tax deadline. 

Don't panic, and take the day off

The first thing that you need to remember is not to panic. Although the IRS does have deadlines for the day that personal taxes are due, you will not be in any major trouble for missing one day of the deadline. If possible, take the day off of work to finish up or start your taxes. If you are concerned about finishing your taxes, it would be best to take the day off of work in order to get the paperwork completed and get everything sent off. 

Go to a tax professional

The day after taxes are due, the lines at most tax professionals offices will have decreased somewhat, and you will be able to receive proper tax assistance. Have the tax professional go over your income information and help you fill out the correct tax forms. The IRS will still be able to receive information that is mailed in or submitted via the Internet after the deadline. Since the IRS will still be processing taxes there will not be any trouble because you filed one day after the tax deadline. You must make sure that you have the appropriate information in order to get taxes completely submitted so that there is no further waiting. 

Bring your credit-card or bank-account information

Since you will be filling out your tax information after the deadline, it may be too late to file for an extension. For this reason, you want to make sure you pay off any tax debt immediately. If there is a chance that you may owe taxes, bring your bank account and routing information or your credit and debit card information into the tax professional's office. This way your taxes will be paid prior to the IRS imposing any interest on overdue taxes. If you are due a refund, be prepared to wait for several weeks for either an electronic or paper refund. 

Talk to a professional at a company like Wealth Builder Advisor for more information.