October 15 has passed. What to do if you still haven't filed

It happens. No drama, just the steps.

First, file as soon as possible

The failure-to-file penalty runs from the due date but stops growing the moment you file. Every extra day now costs more than yesterday.

Second, don't confuse the failure-to-file and failure-to-pay penalties

They are two separate charges. If you file but can't pay right away, you can set up a payment plan (installment agreement), and that stops the worse of the two.

Third, check the FBAR separately

It has the same deadline but a different system (FinCEN) and different consequences, with penalties that aren't tied to the account balance.

Fourth, don't wait for an IRS letter to act

The letter won't come right away, but the penalty is already running. A month of delay means a bigger amount.

If this is you, write to me now and we'll sort out what's left to do.