What Happens If I File My Taxes One Day Late?

If you do not file on time and still have to pay tax, you may have an extra liability of failure to file, except in circumstances where you can back your reasons with proof. The total penalty is 5 per cent (4.5 per cent late filing+ 0.5 per cent late payment) for each month, going up to 25 per cent. This information is in relation to the US tax structure by the IRS. Consult with the tax authority of your country about the penalty levied in case of delay in filing your taxes.

Even if you file your taxes one day late, you are responsible to pay on the tax payable for the entire month. However with modern technology, there is no option of filing your tax faster than ever. You can file your taxes through email.

Don't worry, its not a big deal. Go for paying taxation, you will be just charged extra, nothing else.

I've filed like two years late and nothing happened as long as I wasn't owing anything. I just filed those other years taxes together with the next years. Don't know what happens if you owe.