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Missing the tax extension deadline: Consequences and next steps

3 min read

3 min read

Tax Day comes around the same time every year, typically falling on April 15. But even if you know when the tax filing deadline is, it can be tough to have everything ready for your individual income tax return on time.

Woman who missed tax extension deadline

That’s where extensions come in and give you extra time to get your income tax docs in order. Understanding the ins and outs of extensions can get tricky. In this post, we’ll outline the basics, so you can get your IRS income tax return squared away.

Tax extension deadline: 2023 taxes

In short, there are two key dates to keep track of when thinking of the tax extension deadline.

  • The deadline to file an extension is April 15, 2024 – the same as the original tax deadline. By filing an extension, you get more time to prepare your tax return, but you still must pay any taxes due by the original filing deadline.
  • Then the final tax extension deadline is October 15, 2024 to finish and submit your tax return.

But what if you miss the April Tax Day deadline? Or the October deadline?  And can you get more time after October? Read on as we cover the answers to these important questions.

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What happens if you miss the tax extension deadline?

If you miss the April filing and payment deadline, you could face two penalties depending on your situation: the failure to file penalty and the failure to pay penalty (if you owe). If you filed an extension, and filed your return by the extended deadline, you won’t need to worry about the failure to file penalty.

If you miss the October extension filing deadline, you’ll have failure to file penalties that are retroactive to your original filing date (typically October 15) and, potentially, failure to pay penalties retroactive to the original payment due date (typically April 15). Your best bet is to file your tax return as soon as possible after the extended due date of October 15, 2024 to minimize any further penalties and interest.

Can I get more time after the October deadline?

Unfortunately, the tax filing extension deadline can’t be extended beyond the October 15, 2024 deadline. That means if you still need to file for the 2023 tax year, this is your last chance to complete a tax return without failure to file interest and penalties.

Additionally, while there’s no extension for tax payments, there are options if you’re unable to pay your tax bill. You can request an IRS payment plan, which allows you to pay your taxes in installments. Find out more about setting up an installment agreement.

Get help filing your tax return

While taxes can be stressful, you don’t have to go it alone. Whether you work with a tax professional or file online, you can trust the expertise of H&R Block to help you file your taxes.

Make an appointment to file with a tax pro or file taxes online with H&R Block Online today!

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