This year’s tax filing deadline is April 18, 2023, after which you can still file a tax return, claim a refund or pay tax owed. However, please note that late filing may result in penalties and interest if you hadn’t filed an extension for your 2022 taxes and pay any taxes you may owe by April 18, 2023. The amount of the penalties and/or interest will be calculated and levied by the tax department after they accept your tax return. The calculation and the payment of penalties and interest are not included in Tax Panda’s tax return services.
According to the IRS website, these penalties or interest are accrued monthly and range from 0.5% to 5% of the unpaid tax amount per month. Taxpayer should pay off the amount as soon as possible after receiving the notice from the IRS and state tax department.
Each state may also impose similar penalties and interest. Please refer to your state tax department for details as each state has different requirements.
Exception: The tax filing deadline for residents or companies in California where the counties are federally declared affected by disasters is extended to October 16, 2023 by the IRS and California FTB. Residents in these areas can file their 2022 tax return and pay taxes owe on or before October 16, 2023, without being subject to penalties and interest.
For Non-Residents living in the U.S., according to the U.S. laws and regulations, even without income, you will need to file tax returns to fulfill your obligation. If you forgot to file, it may affect your H-1B visa or future green card/citizenship application.
The IRS allows you to catch up on past years’ tax filing. Tax Panda’s professional CPA can help you take care of all the past no-income period filings altogether so that you can fulfill your tax filing obligations, worry-free.
If you have been living/studying in the U.S. on or before 2021, according to the U.S. laws and regulations, you will need to fulfill your tax filing obligation. If you forgot to file in the prior years, not only will you face penalty and interest charges, it may also affect your H-1B visa or future green card/citizenship application.
You will need to to take care of your past year’s income tax return as soon as possible to avoid further penalties and interest. The IRS allows you to catch up on past years’ tax filing. Tax Panda’s professional CPA can help you you take care of all the past period income tax filings altogether, so that you can fulfill your tax filing obligations, worry-free.
