The deadline to file a tax return has come and gone. Did you miss it? Depending on your situation that could be cause for an “oops” or it could mean you need to take action ASAP to avoid owing any more to the IRS.

If you missed the tax deadline but are due a refund there is no penalty. The government is happy to hold on to your money, interest-free, for a bit longer. In fact, you have up to three years from the filing deadline to complete a return and get that refund.

Don’t delay too long though. This is especially true if you get a Premium Tax Credit to help pay for insurance. Failure to file a tax return could jeopardize that credit, so it’s better to act soon. You can still make an appointment at an Nugent & Associates office or start online.

If owe taxes and missed the deadline, there’s good news and bad news.

Bad news: You can’t file an extension at this point.

More bad news: you will be charged failure-to-file and failure-to-pay penalties for missing the deadline.

Good news: You can still file.

Ok, that might not seem like great news. How about this: The sooner you file, the less you’ll pay in penalties.

Read more about exactly how those penalties are calculated . Generally, the IRS charges them on a monthly basis, but they can be prorated for a portion of a month. So it’s a good idea to file as soon as possible to limit the charges you may incur. After 60 days pass, you will incur an established minimum penalty that is the lesser of $205 or 100% of the unpaid tax you owe.

So there is a simple solution: Get that tax return filed and make it a priority now. Learn more about how to file back tax returns and how to reduce penalties and interest if you qualify.