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IRS: It’s not too late to file federal taxes

Here are the key points the IRS wants you to know if you missed the federal tax filing deadline of April 15.

File as soon as possible:

If you’re due a refund, you should file as soon as possible to get it. There is no penalty for filing a late return if you are due a refund.

If you owe federal income tax, file and pay as soon as you can to minimize penalties for late filing and for late payment. The IRS will consider reducing penalties if you can show a reasonable cause for being late. The law generally does not allow a waiver of interest charges.

E-file is your best option, and IRS e-file programs are available through Oct. 15. You will receive confirmation that the IRS has received your tax return.

Free File is still available, and if your income is $57,000 or less, you qualify to e-file your return using free brand-name software. IRS Free File is available only through IRS.gov.

Installment agreements are available. Taxpayers who owe up to $50,000 in combined tax, penalties and interest back taxes can now request a payment agreement with the IRS that stretches the payment time up to 72 months.

Apply online using the IRS Online Payment Agreement Application tool or file Form 9465, Installment Agreement Request.

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