Taxes late if you're getting money back...

[Cuda1447]

I know that if you owe money and you file your taxes late you will be charged interest on those taxes. However, I can't find any info on if you are getting money back and you file your taxes late what happens?

 

[Agentbolt]

Nothing. You can file your taxes up to three years late if you don't owe anything, I believe. You won't get any more money, but there's no penalty.

 

[MagnusTheBrewer]

You can still be fined.

 

[nonameo]

If you are owed money, nothing happens. You have to file within 3 years though, or else you will lose the chance to get the money.

 

[DayLaPaul]

The IRS prefers that you don't file your taxes or file late if they owe you.

 

[allisolm]

Originally posted by: MagnusTheBrewer
You can still be fined.

Not according to the IRS. Here.

As nonameo said, there is no penalty for filing late if you are owed a refund.

"There is no penalty for failure to file a tax return if a refund is due. But by waiting too long to file, you can lose your refund. In order to receive a refund, the return must be filed within 3 years of the due date."