Here's what happens if you don't file your taxes before April 15 via CNBCMakeIt
2018 taxes are due soon and, though everyone's tax situation is different, you could face real consequences if you don't submit your return by the deadline, Monday, April 15. Here's what you need to know.There are different penalties for not filing your taxes and not paying them, says Bill Smith, managing director of CBIZ MHM's National Tax Office.
If you file your taxes but don't pay them, the IRS can charge you a failure-to-pay penalty. The penalty is far less: Generally, the IRS will charge you 0.5% of your unpaid taxes for each month you don't pay, up to 25%. If you don't file, the consequences can pile up, thanks to fees and interest. Plus, you may miss out on a refund by not filing.
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