National Tax Day Is Around The Corner!

National Tax Day is inevitable, but it always seems to creep up on you. It’s around the corner, on April 18, and here’s what you need to know!

April 18th is the deadline to file and pay your income taxes for most individuals! Not doing so could result in penalties and interest on the amount owed.

“Taxpayers should file their tax return by the deadline even if they cannot pay their full tax bill. Taxpayers who owe tax and don’t file on time, may be charged a failure-to-file penalty. This penalty is usually five percent of the tax owed for each month, or part of a month that the tax return is late, up to 25%,” the IRS says.

However, it is possible to request a filing extension ahead of the April 18th date, according to the IRS website. When you’re ready to file, you may be looking for a reputable tax preparer. Be sure to check the prepares reputation with the Better Business Bureau, ask about fees upfront and be skeptical of a preparer claiming to get you a larger than usual amount.

Once you file, stay alert for scammers fishing to steal your personal information.

An IRS tip sheet reminds Americans that the IRS will never:

  • Send text messages or contact people through social media to get personal information or collect a tax debt.
  • Demand immediate payment using a specific payment method such as a prepaid debit card, gift card or wire transfer.
  • Threaten to immediately bring in local police or other law enforcement groups to have the taxpayer arrested for not paying.
  • Demand that taxes be paid without giving taxpayers the opportunity to question or appeal the amount owed.
  • Call unexpectedly about a tax refund.

CBS Money Watch analyst Jill Schlesinger also recently shared tips for those who have yet to file. Schlesinger suggested that people file electronically instead of on paper to save time. If filing an extension, Schlesinger said that people should be looking for Form 4868 at This will give people a chance to extend their time to October 17.