You are required by federal law to file an income tax return. You should file a tax return even if you have missed the deadline. If you owe the IRS money then they will impose penalties and interest for not making the payment on time. However if you are due a refund from the IRS there will be no penalties or interest imposed, but in order to get the refund you must file a return within three years of the due date of the return.

The IRS receives records from all legitimate employers and financial institutions and can determine a taxpayer’s actual income. If you do not file a tax return at all, the IRS will fill a tax return on your behalf known as a Substitute for Returns. However when the IRS prepares your return they will often disregard many of the credits and deductions you could claim, often resulting in a higher tax liability than if you had prepared your own tax return.