April 15 was the tax day deadline for most people. Did you miss it? If you did, you still want to prepare and file your return even though it is late.
If your return shows a refund, there is no penalty if you file a late tax return.
However, if you owe taxes and you failed to file and pay on time, you will usually owe interest and penalties on the taxes you pay late. Here are some facts that you should know about these penalties.