Has it ever crossed your mind what happens when you don’t file your taxes? The tax filing deadline for this year is May 17, so if you want to avoid penalties and other unpleasant situations, make sure to pay your federal income tax by this date.
Failing to do so could translate into several possible scenarios. And even if the due date has been extended to May 17, don’t procrastinate, assuming you have plenty of time to file and pay your taxes. Maybe an unfortunate event in the family could be on the horizon, making you unable to respect the deadline.
We can’t know for sure what the future holds for us, but if we miss the tax filing deadline for whatever reason, it’s best to be aware of what may come. So, let’s find out the repercussions of letting the deadline slip through your fingers.