You can still file 2012 tax returns. Even though the deadline has passed, you can file your 2012 taxes online in a few simple steps. Our online income tax software uses the 2012 IRS tax code, calculations, and forms. File late taxes today with our Maximum Refund Guarantee.

What to do if you forgot to file taxes?

Use Form 1040X to correct an individual return. You have to file an amended return on paper, rather than electronically. If you made errors on more than one year’s tax return, you need to file a 1040X for each, and mail each in a separate envelope.

What happens if you owe money on 2012 tax return?

If you were due a refund for 2012 you won’t have to pay any penalties or interest at all. On the other hand, if you owe money you may have to pay a failure-to-file penalty, a failure-to-pay penalty, and interest.

What happens if you make a mistake on your tax return?

If you discover a “taxable” mistake or omission on a tax return you already filed, you should amend as soon as possible. Depending on the size of the tax bill, you could reduce or avoid penalties.

Is there penalty for late filing of income tax return?

Revised return : Late /belated return can not be revised . This is major draw back .if you failed to file return in time then you can revise your income tax return. Though you may apply revision u/s154 which is lenghty process Some of deduction under subsection 80 are not available for late return.

What happens if you do not file your tax return by the due date?

Further if return is not filed within the due date then banks may not consider return for Loan purpose, etc. Please note that, while driving a vehicle on the route of laws, return should be filed before due date, as there is no U turn and in future Toll needs to be paid i.e. penalty would be imposed.