You Should Always File Your Taxes on Time Even if You Can't Pay Them. Here's Why

Taxes are due Wednesday, April 15, 2020. This means you need to submit your 1040 form by this date and should pay what you owe to the IRS by the deadline. 

Sometimes, however, you may find you owe more money to the IRS than you can afford to pay when April 15 rolls around. If this happens to you, it may seem like the easiest solution is to just wait and file your returns when you can afford to pay the bill. Unfortunately, this approach could end up costing you a whole lot of extra money. 

Instead, no matter how much you think you're going to owe the IRS, you should file your tax returns on time in every situation. Here's why.

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Source Fool.com