If You Owe Taxes
If you owe taxes for 2020 or multiple previous tax years and you have not filed nor paid the taxes due, you will most likely be subject to late filing and late payment penalties. Here are some recommended actions to take:
- Download the respective Tax Forms for the Tax Year in Question.
- Use the IRS Tax Withholding Estimator.
- Complete the required Income Tax Forms and Mail Them to the IRS.
- Even if you can’t pay your taxes, follow the steps above and pay as much as you can afford. This will at least stop the late filing penalties, which in many times are higher than the late payment penalties.