What happens if I submit my tax return late?
August 29, 2022 | 45,00 EUR | answered by Wolfgang Stricker
Dear tax advisor,
my name is Selma Meier and I have a question regarding my tax return. I have realized that I have not yet submitted my tax return for the past year and I am wondering what will happen if I submit it late.
I am employed and have been very busy in the last few months. Unfortunately, I missed the deadline to submit my tax return on time. Now I am worried that I may face penalties or sanctions if I miss the deadline.
Could you please explain to me what consequences I may face if I submit my tax return late? Are there any fines or late payment interest that I have to pay? And how can I best resolve this situation to avoid any further problems?
Thank you in advance for your help and support. I look forward to your response and to hearing from you on the best course of action.
Best regards,
Selma Meier
Dear Mrs. Meier,
Thank you for your inquiry regarding your tax return. It is understandable that in your busy daily life it can be easy to miss the deadline for submitting your tax return. But do not worry, there are solutions to your problem.
If you submit your tax return late, it can indeed have consequences. Typically, a late filing penalty is imposed. This penalty amounts to 0.25% of the assessed tax per month of delay, but no more than 25% of the assessed tax. Therefore, it is important to submit your tax return as soon as possible to limit the amount of the late filing penalty.
In addition, default interest may be incurred if you have to pay taxes and also delay the payment. Currently, these amount to 0.5% per month of delay.
To solve your situation as effectively as possible and avoid further problems, I recommend you prepare your tax return promptly and submit it to the tax office. If you have trouble compiling the documents or have questions about preparing the tax return, I am also available for you personally in my online consultation hours.
I also recommend that you attach a brief explanation for the delay to the tax office to avoid any misunderstandings. In many cases, the tax office shows understanding for a one-time delay, especially if there are legitimate reasons such as lack of time.
Please do not hesitate to contact me if you have any further questions or need help with your tax return. I am here to assist you and support you in solving your problem.
Best regards,
Wolfgang Stricker
Tax Advisor
