Next Tuesday—April 18th to be exact—is the last day to file taxes. So, if you haven’t already, this is your reminder to do so ASAP. With help from Alana Benson (she/her), an investing writer for NerdWallet, we put together some short and simple tax tips, JIC.

Aside from being passionate about sustainable investing, Alana also loves helping people realize that investing is less intimidating than they think. (Psst… Same goes with taxes!) She says that if even the thought of starting to file them stresses you out, though, it’s totally ok. “Taxes are stressful, so it may be worth talking to a professional during tax season,” she says. “Many tax preparation software companies allow you to speak with a tax professional for an extra fee or for free. This may be a less expensive option than working with an in-person tax professional.”

But if you’d rather do it on your own from home, keep reading to learn how and what could happen if you don’t.

What are a few tips on how to file taxes?
Here are my top tips for tax season:

1. You may not have to pay for tax software. Many Americans—the IRS estimates up to 70%—are eligible for a program called IRS Free File. This program provides access to free tax preparation software. To qualify, you must have had an adjusted gross income of $73k or less in 2022.

2. File on time. Dealing with taxes can be a pain, but it’s better than the penalties you’ll face if you don’t file or pay your bill on time. And even if you can’t pay your tax bill, you should still file your taxes by the deadline. If you file your taxes but don’t pay your bill on time, you’ll deal with a much smaller penalty than if you don’t file at all.

3. If you can’t afford your tax bill, you have options. If you can’t pay what you owe you can contact the IRS to set up a payment plan or offer in compromise. A payment plan allows you to pay the taxes you owe over a longer period of time. An offer in compromise lets you settle the tax debt for less than you owe. Payment plans are more common and often easier to obtain than offers in compromise, and you can apply for them online.

What can happen if you don’t pay your taxes on time?
If you pay taxes late, the IRS may charge interest on what you owe until the balance is paid in full. If you don’t pay your taxes on time, you’ll be charged a penalty of 0.50% of the unpaid taxes for each month until you pay your tax bill, but the penalty won’t exceed 25% of your unpaid taxes. (Ex: If you owed $5k in taxes, you’d owe $25 a month until you paid your bill, but what you owe would not exceed $1,250 plus your original bill of $5k.)

What happens if you don’t pay your taxes at all?
If you never pay your taxes, you could potentially face tax evasion charges. If you’re charged with tax evasion you must pay your owed taxes in addition to a healthy penalty and can face up to 5 years in prison—but facing jail time for owed taxes is very rare.