3 steps to take if you forgot to file your tax return

File as soon as you can

There is a penalty of 5% of your previous balance owing, plus 1% of your balance owing for the next 12 months if you didn’t file your tax which is why if you forgot to file your tax you should probably file as soon as you can. On the other hand, if you have a refund waiting, there is no penalty.

Electronic Filing

You can always file your taxes electronically, which is more convenient.

Make Payments

You can pay your tax even if you haven’t had your taxes filed, you can pay an estimated amount and if it exceeds your taxes payable amount then you can get a refund.