The deadline to file your federal taxes, April 15, is less than a week away, and if you don't file or get an extension in time, you could face some hefty penalties.
If you haven't gotten started on your taxes yet… well, you'd better hurry up.Tax Day falls on April 15 this year, meaning, if you haven't started preparing your returns, you've got less than a week to get it done.So, if you're a tax procrastinator, here's what you need to know to get your taxes in, and what to do if you don't:Once again, tax returns can be submitted electronically or by mail by April 15.
Direct File should not be confused with the Free File program, which offers commercial software for free to low- and middle-income earners and fallible forms to all. The deadline to file for a tax extension is also April 15.An extension gives people until October 15 to file their federal taxes, however, it only covers sending in the relevant paperwork. If you have any taxes owed, they must be paid by April 15 to avoid potential penalties.
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