Taxpayers should file their tax return on time even if they can’t pay their tax bill in full
People who owe tax and do not file their return on time or request an extension may face a failure-to-file penalty for not filing on time.
Taxpayers should remember that an extension of time to file is not an extension of time to pay. An extension gives taxpayers until October 15, 2021 to file their 2020 tax return, but taxes owed are still due May 17, 2021.
Original Article Source Credits: IRS , https://www.irs.gov/
Article Written By: NA
Original Article Posted on: 20-Apr-2021