What Happens If You Don't File Your Taxes? Plus, Confessions of a Former Auditor

Money Rehab with Nicole Lapin

Money News Network

Education, Self-improvement, Business

4.4 • 1.4K Ratings

🗓️ 14 April 2023

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Fellow tax procrastinators, if you haven't filed your taxes yet, Nicole answers all of your questions, including: do I reeeeally have to? Plus, a reprise of one of our all-time favorite interviews with the sweetest former auditor you ever did see.

Transcript

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0:00.0	I'm Nicole Lapin, the only financial expert you don't need a dictionary to understand.
0:07.0	It's time for some money rehab.
0:09.0	Okay, money rehabbers.
0:16.7	Who hasn't filed their taxes just yet?
0:19.0	Be honest, this one is for my procrastinators out there.
0:22.1	The people who are thinking to themselves, well, shit.
0:25.6	Do I actually have to pay my taxes on Tuesday?
0:28.6	What if I don't?
0:29.7	I'm answering those questions today.
0:31.8	And then we're going to have a little bit of a tax kumbaya, but I'll get to that in a
0:35.2	second.
0:36.2	Okay, let's reorient ourselves.
0:38.1	Tax day is Tuesday, April 18th, so you still have a little bit of time.
0:42.4	But if you have a complicated tax situation or if you file your taxes yourself without
0:46.6	the help of an accountant or an online tool and you're worried about getting all the paperwork
0:51.0	together in time, you can file an extension.
0:54.1	You can file an extension up until Tuesday, April 18th, which will move your tax filing
0:59.2	day to October 16th, waiting until tax day to file an extension gives me hives.
1:06.4	So if you do this, please do not wait till the last minute, something might go wrong,
1:11.0	and then you'll be slapped with the late penalty.
1:13.3	But there's a huge misconception about these extensions.
1:16.2	And please, please, please don't make this mistake.
	...

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