What if I missed the October filing deadline?
If you're getting a refund on your 2011 tax return, you have until April 15, 2015 (October 15, 2015 with an extension) to file the return before the statute of limitations on your refund expires. If you don't file by then, the U.S. Treasury simply keeps your "donation."
On the other hand, if you owe tax, that deadline has already passed.
If you still owe taxes and can't pay it off all at once, at least try to pay off as much as you can, as soon as you can. See IRS payment options.
Paying down your tax bill – the sooner the better – will minimize your penalty, as penalties are calculated off the amount of taxes owed and the length of time they remain unpaid.
Can I still e-file my 2011 return?
No. The IRS shut down e-filing for 2011 personal returns on October 15, 2012.
For this reason, TurboTax Online for tax year 2011 is no longer available. More info
What are the penalties for filing late?
For tax year 2011 returns:
- There is no penalty if you're getting a refund, provided you file within the allotted 3-year timeframe.
- After 3 years, the "penalty" is forfeiture of your tax refund, as mentioned above.
- A late filing penalty applies if you owe taxes and didn't file an extension by April 17, 2012.
- This penalty also applies if you owe taxes, filed an extension, but didn't file your return by October 15, 2012.
- The late filing penalty is 5% of the additional taxes owed amount for every month (or fraction thereof) your return is late, up to a maximum of 25%.
- Tip: The late filing penalty is up to 10 times higher than the late payment penalty. If you can't pay your tax bill, file your return as soon as possible! You can always amend it later.
- A late payment penalty applies if you didn't pay additional taxes owed by April 17, whether you filed an extension or not.
- The late payment penalty is 0.5% (1/2 of 1 percent) of the additional tax owed amount for every month (or fraction thereof) the owed tax remains unpaid, up to a maximum of 25%.
What happens if I do not file at all?
You'll probably receive a letter from the IRS reminding you to file your tax return, particularly if W-2 or 1099 forms were reported to the IRS by your employers. For additional information, refer to the IRS article What Will Happen If You Don't File Your Past Due Return or Contact The IRS.
If you are expecting a refund on your 2011 tax return, you'll forfeit your refund if you do not file by April 15, 2015 (October 15, 2015 if you filed an extension).