What happens if I miss the tax filing deadline?

If an individual misses the tax filing deadline in Massachusetts, several consequences may arise. First, the Massachusetts Department of Revenue imposes penalties and interest on any taxes owed. The penalty for failing to file a return timely is typically a percentage of the unpaid tax, with additional interest accumulating on the owed amount. This can lead to a significant increase in the total amount due if the return is not filed promptly. In some cases, if an individual anticipates being unable to file the tax return by the deadline, they may be able to apply for an extension. However, it is important to note that an extension to file does not equate to an extension to pay any taxes owed; the owed amount must still be paid by the original deadline to avoid penalties. Filing as soon as one realizes the return is overdue is advisable, as this can help mitigate some penalties. It is also crucial to keep track of the latest updates and deadlines provided by the Massachusetts Department of Revenue, which may be found on their official website. By staying informed, individuals can better navigate their tax obligations and avoid potential issues related to missed deadlines.