What if I didnâ€™t file taxes last year, or forgot to file taxes, should I file a late tax return?
It depends. You should first determine if you were required to file a return. If your income was under certain levels, you’re not required to file. See the filing requirement in Publication 501 under “Who must file.” If you do have a filing requirement, then you should:
- File your last year’s federal and state returns on last year’s forms.
- Pay any balance due as soon as possible to avoid additional penalties and interest.
Seriously delinquent tax debt can cause your passport to be restricted. Find out if you could be impacted and learn how to fix the problem.
Learn more about Letter 3219B and how to handle an IRS notice of deficiency for your business with help from the tax experts at H&R Block.
If you owe taxes and you can’t pay them all, you have options. Read H&R Block's guide to the types of IRS installment agreements - and how to figure out which one is right for you.
IRC 6020(b) gives the IRS authority to prepare a return on behalf of a business, commonly called a substitute for return (SFR). Learn more from H&R Block.