Today is April 15th, the federal deadline for individuals to file income tax returns or request an automatic six months extension and pay taxes owed.
Missing today’s deadline without an extension can lead to penalties of five to 25-percent and interest.
The Internal Revenue Service says it is better to file on time and not pay in full than to fail to file at all, as the penalty for failure to file is higher than the penalty for failure to pay.
The Tax Day of April 15th was established when Congress moved the deadline to the date in 1955 to give taxpayers and the IRS more time to prepare and process increasingly complex tax returns.
