Did not file your taxes in 2025? Here is what You can still do

The 2025 tax season ended on April 15, but if you did not file your return on time, you still have time to act. Every year, thousands of taxpayers including self-employed workers, immigrants with or without legal immigration status, and small business owners fall behind for various reasons. The most important thing now is not to do nothing, as the Internal Revenue Service (IRS) offers alternatives depending on your situation. 

Below, we explain what you can do to catch up, reduce risks, and protect your financial stability according to different cases: 

If You Were Expecting a Refund, You Can Still File Without Penalty: 
If your income qualified you for a refund and you did not file your return on time, the IRS will not penalize you. In fact, you can file late up to three years after the original deadline. For example, you have until April 2028 to file the return corresponding to the 2024 tax year (2025 tax season) and receive any pending refund. However, if you do not file within that three-year period, you will lose the right to recover that money. 

If You Owed Taxes, Filing Late Can Minimize Your Penalties: 
If you had a payment obligation and did not file your return, the best thing you can do is file immediately, even if you cannot pay the full amount yet. The IRS applies penalties for late filing (up to 5% per month) and for late payment (0.5% per month), in addition to daily interest. 

Options If You Cannot Pay the Full Amount Now: 
The IRS offers several programs that allow you to regularize your situation: 

• Installment Payment Plans: You can set up manageable monthly payments, even if you owe a significant amount.
• Offer in Compromise Agreement: If you qualify, you can negotiate to pay only a portion of the debt.
• Temporary Uncollectible Status: In cases of severe financial hardship, the IRS can temporarily suspend collections.

Are You an Immigrant or Work with an ITIN? Filing Is Still Essential: 
Many people in the immigrant community, especially those without legal immigration status, hesitate to file taxes. However, filing your taxes with an Individual Taxpayer Identification Number (ITIN) is not only legal but can also benefit you in the long term. 

Filing taxes responsibly can help you: 

• Demonstrate financial stability and compliance with laws, which may be useful in immigration processes before USCIS.
• Qualify for state or local benefits.
• Build a financial history, important for renting, buying a home, or accessing credit.
• Even if you do not have a visa or passport yet, you can apply for an ITIN through one of our Toro Taxes agents who are authorized and certified by the IRS (CAA). They will guide you through the process and validate the required documents.

Toro Taxes is with You. What if you were part of the solution? 

We do not just help people meet their tax obligations: we also encourage those who want to become leaders in their community. Here, we train new professionals and entrepreneurs who want to open their own business or join a team committed to service. With the support of the largest Latino tax service franchise in the United States, you can train, grow professionally, and make a difference. 

Discover our franchise opportunities or become a tax preparer. 

Toro Taxes: Our Community, Our Cause. 
800-867-6829 ext. 202 | www.torotaxes.com