What happens if you don’t file taxes on time?

(NewsNation) — The April 15 tax deadline is here, and if you owe taxes and don’t file or pay, the Internal Revenue Service (IRS) can begin charging penalties and interest.

The failure-to-file penalty is typically 5 percent of the unpaid tax for each month or partial month the return is late, up to 25 percent. Those who owe may also face a separate failure-to-pay penalty.

Taxpayers who can’t file by the deadline can request an automatic extension, which gives them an extra six months — until October 15 — to submit their return without a late filing penalty.

However, an extension does not extend the time to pay, and any taxes owed are still due by April 15.

As of April 3, the IRS had received about 99.8 million individual returns — roughly 60 percent of the 164 million it expects by the filing deadline.

Those filing electronically must submit their return or request an extension by 11:59 p.m. local time on April 15. The IRS considers a mailed return on time if it’s postmarked by the due date.

What happens if you don’t file your taxes on time?

Taxpayers who owe and don’t file a return or request an extension can face penalties and interest, which start accruing after the deadline.

The IRS typically charges a failure-to-file penalty of 5 percent of unpaid taxes for each........

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