top of page
Search

Missed the March 15, 2025, Tax Deadline? Here’s What San Antonio Business Owners Need to Know

If you missed the March 15, 2025, tax deadline for your partnership, S-corp, or C-corp and didn’t file an extension, you’re not alone. Many small business owners in San Antonio find themselves in this situation, but the key is taking action quickly to reduce penalties and avoid further IRS issues. Here’s what you can do now to limit the financial impact and get back in compliance.



1. File Your Business Tax Return ASAP

The IRS imposes significant penalties for late filing, so the sooner you submit your return, the better.

  • Partnerships & S-Corps: Face a $220 per partner/shareholder per month penalty (for up to 12 months).

  • C-Corporations: Subject to a 5% penalty per month on any unpaid tax (capped at 25%).

  • If You Don’t Owe Taxes: You won’t be charged a failure-to-pay penalty, but you may still face late filing penalties.

Even if you can’t pay your tax bill in full, filing now reduces penalties and prevents further issues with the IRS.


2. Pay Any Taxes Due to Minimize Interest & Penalties

If you owe taxes, failing to pay can make your situation worse. The IRS charges:

  • 0.5% per month (on unpaid taxes) as a failure-to-pay penalty.

  • Interest on outstanding balances, which compounds daily.

Even a partial payment reduces the penalties and interest, so pay what you can now to lower the cost over time.


3. Request Penalty Abatement If You Qualify

The IRS offers First-Time Penalty Abatement (FTA) if this is your first late filing. You may be eligible if:

✔ You have filed on time for the past three years.

✔ You’ve paid any past due taxes or are on a payment plan.

✔ You request abatement by calling the IRS or submitting Form 843.

If approved, the IRS may remove or reduce late penalties, saving you money.


4. Check If You Qualify for Reasonable Cause Relief

If your late filing was due to circumstances beyond your control, such as:

✔ Medical emergencies

✔ Natural disasters

✔ Serious family issues

You may be able to request penalty relief by providing supporting documentation.


5. Set Up an IRS Payment Plan If You Can’t Pay in Full

If you owe taxes but can’t pay the full amount right away, setting up a payment plan prevents further collection actions.

  • Short-term and long-term installment agreements are available.

  • You can apply online or with the help of a tax professional.


Need Help Navigating Late Business Taxes? The RedHead Solutions Can Assist.


At The RedHead Solutions, we specialize in helping San Antonio business owners handle late tax filings, minimize penalties, and set up IRS payment plans.


✅ We’ll review your situation and file your return quickly.

✅ We can request penalty relief if you qualify.

✅ We help you manage tax payments to avoid further penalties.


If you’ve missed the March 15, 2025, tax deadline, don’t wait—contact The RedHead Solutions today to get your business back on track.


Call us now or schedule a free consultation to discuss your next steps.



 
 
 

Comments

bottom of page