What happens if I submit my income tax return late?
January 16, 2022 | 40,00 EUR | answered by Eiko Hoffmann
Dear tax advisor,
My name is Lukas Czakaj and I have a question regarding my income tax return. I have not yet submitted a tax return as I am unsure how to do it correctly. Now I am worried that it may be too late to submit the tax return and I am wondering what happens if I submit my income tax return late.
My situation is as follows: I work as a full-time employee and had additional income from a side job last year. I have never filed an income tax return before as the topic has always seemed a bit complicated to me. However, I have heard from friends that it is important to file a tax return in order to receive tax refunds.
I am worried that it may already be too late to submit my tax return for the past year. I do not know what consequences I could face if I missed the deadline. Will I be penalized or fined if I submit it late? Or is there still a way to submit the tax return afterwards?
Can you please explain to me what happens if I submit my income tax return late and what steps I should take now to correct my mistake? I want to ensure that I do not have any issues with the tax authorities and that my tax refunds are not at risk.
Thank you in advance for your help and support.
Best regards,
Lukas Czakaj
Dear Mr. Czakaj,
Thank you for your inquiry regarding your income tax return. It is understandable that the topic of tax returns may seem complicated to many people. However, it is important to submit your tax return on time to avoid jeopardizing potential tax refunds and to avoid possible consequences.
First and foremost, I want to assure you that it is never too late to file a tax return. Even if the official deadline for submission has passed, you can still submit your tax return retrospectively. However, you may be subject to a late filing penalty in this case. This penalty is usually 0.25% of the determined tax per month of delay, but capped at 25% of the determined tax.
Therefore, it is advisable to submit your tax return as soon as possible to avoid additional costs. You should contact your local tax office immediately and explain your oversight. Typically, the tax office will show understanding if you can demonstrate that the delay was not intentional. It is important to compile the documents for your tax return fully and correctly to avoid any queries from the tax office.
I also recommend seeking professional assistance from a tax advisor or a wage tax assistance association to ensure that your tax return is filled out correctly and that you can take advantage of all possible tax benefits.
In summary, while there may be consequences for submitting your tax return late, it is never too late to catch up. Contact your tax office promptly and submit your tax return to avoid additional costs and to safeguard potential tax refunds.
I hope this information has been helpful to you. If you have any further questions, please do not hesitate to contact me.
Best regards,
Eiko Hoffmann, Tax Advisor
