PHOENIX — April 15 is Tax Day! If you're a taxpayer and haven't filed, you need to do so by the end of that day or face penalties.
The IRS will add 5% of the unpaid taxes for each month the return is late. If it's late for 60 days or more, there could be additional penalties.
If you're single, under 65 years of age, and make less than $13,850, you don't have to file. Also, it's the same if you're 65 or older, married, filing jointly, and making less than $30,700.
If you're getting a refund and don't owe, you don't have to file. But in that case, don't wait too long. File within three years, or you could lose out on that refund.
Filers also have a few options to delay payment or paperwork.
You can work out a payment plan with the IRS.
With the short-term plan, you have 180 days to pay, although interest and penalties will be added until paid off.
Or you can file an extension, moving your deadline to October 15. Remember, that is just an extension to file your taxes. It does not delay payment.
It's free to file an extension and can be done online.
