What Happens If You Fail To File Your Taxes In Ohio By Tax Day

April 15th is Tax Day, which is the final day to file your taxes for the previous year's wages. But what happens if you're a resident of Ohio, and you're late to filing your taxes? First off, you had like...3 months to do this, so what took so long?

But I get it, not everybody is on the same schedule and things can easily be forgotten. But if you miss the tax deadline, you may get a paper visitor in your mail letting you know. Did you get an Ohio Individual Income Tax Failure to File notice (ITDQ0009) from the Ohio Department of Taxation letting you know that they didn't receive an Ohio Individual Income tax return ? These are some of the penalties you could face:

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The interest rate on any unpaid tax due is set annually. For a complete list of the annual certified interest rates, please visit tax.ohio.gov and click on the Individual tab then click interest rates. Late payment penalty is double the interest rate. Late filing penalty is the greater of 5% of the tax due or $50.00 for each month the return is late, up to a maximum of 50% of the tax due or $500, even if the late-filed return results in a refund.

What To Do If You're Late On Taxes In Ohio

The simple answer is to consult a tax expert and get your taxes done as soon as possible, and you MAY be able to avoid fees. But since the 15th is the cutoff day, expect you may have to face some financial penalty.

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