take prudent action to address their situations.A common reason people may miss the tax deadline is if they believe they might owe and do not want to deal with it, Christina Taylor, head of tax operations at Credit Karma, told FOX Business.However, putting off filing a return and paying obligations will only exacerbate the problem.RELATED: Should you file for a tax extension?
These are the pros and cons“Don’t do nothing,” Taylor said. “Face the music now, it’s not going to go away.”Here are some steps you can take to keep your penalties to a minimum if you were unable to file by July 15.AdvertisementEven if you missed the tax deadline, the sooner you file your return, the better.That’s because penalties and interest will begin accruing.