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   What happens if you don't file tax returns in 2020?

   • If they don’t file within three years, the money becomes the property of the U.S. Treasury. But for 2020 tax returns, people have a little more time than usual to file to claim their refunds. Typically, the normal filing deadline to claim old refunds falls around the April tax deadline, which is April 15 this year for 2023 tax returns.

   Time running out to claim $1 billion in refunds for tax year 2020

   www.irs.gov/newsroom/time-running-out-to-claim-1-billion-in-refunds-for-tax-year-2020-taxpayers-face-may-17-deadline

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   What happens if I file my 2019 tax return late?

   • In addition, filers of tax year 2019 information returns (other than IIRs) filed on or before August 3, 2020, will have any portion of an information return penalty that is the result of late filing abated.

   Systemic penalty relief is now available for certain tax year 2019 and

   www.taxpayeradvocate.irs.gov/news/tax-news/systemic-penalty-relief-is-now-available-for-certain-tax-year-2019-and-2020-returns/2022/08/

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   What happens if you miss a tax return in 2020?

   • By missing out on filing a tax return, people stand to lose more than just their refund of taxes withheld or paid during 2020. Many low- and moderate-income workers may be eligible for the Earned Income Tax Credit (EITC). For 2020, the EITC was worth as much as $6,660 for taxpayers with qualifying children.

   Time running out to claim $1 billion in refunds for tax year 2020

   www.irs.gov/newsroom/time-running-out-to-claim-1-billion-in-refunds-for-tax-year-2020-taxpayers-face-may-17-deadline

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   What is the penalty for late filing a tax return?

   • The maximum late filing penalty is 25% of the amount due. Regardless of whether you are due a refund or owe, there is another point to keep in mind: If you never file your return, there is no limit on how many years the IRS can go back to assess and collect tax.

   Filing Your Taxes Late - TurboTax Tax Tips & Videos

   turbotax.intuit.com/tax-tips/irs-tax-return/filing-your-taxes-late/L7IhvwH9b

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2. www.irs.gov › filing-past-due-tax-returnsFiling Past Due Tax Returns | Internal Revenue Service

   www.irs.gov › filing-past-due-tax-returns

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   Apr 29, 2024 · Learn why and how to file your past due tax returns, including 2020 taxes, as soon as possible to avoid interest, penalties, and other issues. Find out what to do if you owe more than you can pay, if you don't file voluntarily, or if you need help.

3. turbotax.intuit.com › tax-tips › irs-tax-returnFiling Your Taxes Late - TurboTax Tax Tips & Videos

   turbotax.intuit.com › tax-tips › irs-tax-return

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   Key Takeaways. The federal tax return filing deadline for tax year 2023 is April 15, 2024. If you can’t file on time, you should file an extension by the tax deadline. This will push back the tax filing deadline and protect you from possible failure-to-file penalties.

   • 4.6/5 (673.8K)

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4. www.nerdwallet.com › article › taxesWhat Happens If You Don't File Taxes, or File Taxes Late ...

   www.nerdwallet.com › article › taxes

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   May 20, 2024 · If you owe taxes and you didn't file, or filed late, the IRS may apply a penalty known as the late-filing penalty or the failure-to-file penalty.

5. Videos

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     WHERE TO FILE AND WHAT TO ATTACH TO 2020 FORM 1040 INCOME TAX RETURN

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     What happens when you file your tax returns LATE!

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     irs.gov

     Filing a 2020 Tax Return, Even if You Don’t Have to, Could Put Money in Your Pocket | Internal Revenue Service

     May 14, 2021

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6. www.nytimes.com › 2022/09/09 › your-moneyI.R.S. to Refund Late-Filing Penalties for 2019 and 2020 ...

   www.nytimes.com › 2022/09/09 › your-money

   Sep 9, 2022 · Under the I.R.S. plan, those who filed late federal returns for the tax years 2019 and 2020 and paid penalties will have the money automatically refunded.