Is there a penalty for failing to file taxes on time?

The District of Columbia Office of Tax and Revenue imposes penalties for failing to file taxes on time. If a taxpayer does not file their return by the deadline, a failure-to-file penalty may be assessed. This penalty can increase the overall tax liability, making it crucial for taxpayers to be aware of the due dates for tax filings. In cases where an individual files their return late but owes no taxes, the penalty may still apply. Additionally, if the taxpayer fails to pay the taxes owed by the deadline, a separate failure-to-pay penalty may also come into effect. It is worth noting that interest will accrue on any unpaid taxes, adding to the total amount owed. For those who find themselves unable to file on time, the Office of Tax and Revenue may provide options, such as requesting an extension or an installment plan for payments. Taxpayers should always stay informed of their filing obligations and the potential consequences of late submissions. For more specific information regarding penalties and options, it would be advisable to visit the current web page of the Office of Tax and Revenue, where detailed resources and contact information are available.