PHOENIX — It's Tax Day and if you're a taxpayer who hasn't filed yet, you need to do it by the end of the day or face penalties.
The IRS will add 5% to the unpaid taxes for each month the return is late.
If you're single, under 65 years of age, and make less than $12,900, you don't even have to file. You also don't have to file if you're 65 or older, married filing jointly, and making less than $28,700.
Another thing people might not know is if you're getting a refund, you actually don't have to file. But if you want the money back, you need to file it within 3 years, or you'll lose it.
You also have a couple of other 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 if it's less than $100,000 owed, though interest and penalties will be added until paid off.
Or you can file an extension for free, moving your deadline to October 16, but that's just to file your taxes, it does not delay payment.
The IRS says your tax bill is still due April 18 or costs will be added.
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