Taxpayers may file extension today

Published 10:13 am Wednesday, April 15, 2009

The Internal Revenue Service offers last minute reminders to taxpayers who have not yet filed a tax return, paid what they owe or requested an extension of time to file as the April 15 tax filing and payment deadline arrives today.

According to the IRS, taxpayers who owe taxes and don’t file their tax return by the deadline may face interest on the unpaid taxes and a failure-to-file penalty. Interest and penalties add to the total amount a taxpayer owes. Filing by the deadline allows taxpayers to avoid the failure-to-file penalty, even if they can’t pay all or some of their taxes by the deadline.

According to the IRS, taxpayers who can’t file their return by today’s deadline can request an extension of time to file. However, an extension of time to file is not an extension of time to pay.

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Taxpayers who file on time but don’t pay all or some of their taxes by the deadline could face interest on the unpaid amount and a failure-to-pay penalty. Taxpayers who can’t pay the full amount should pay as much as they can by the deadline to minimize any interest and penalties due.

The deadline for filing is midnight tonight. The U.S. Post Office in Austin closes at 5 p.m. today.