Tax Day is here – Monday, April 18th is the deadline to file your federal tax return.
Here’s what you need to know if you’ve waited until the last minute. First off, you’re in good company – about 100 million people have not yet done their taxes for this year.
If you don’t get your taxes done by the midnight deadline, it’ll cost you – the penalty for not filing is anywhere from half a percent to five percent per month.
Your refund might take a little longer this year – the IRS is understaffed and still dealing with a huge backlog from last year. Still, most refunds should arrive within 21 days.
The best way to ensure a speedy refund? File electronically and use direct deposit.
It's #TaxDay! If you can’t file your tax return by #TODAY don't beat yourself up -- remember that anyone can use #IRSFreeFile to get more time to complete their return. But an extension to FILE isn’t an extension to PAY. See https://t.co/3byJqk9fiF #PinataDay pic.twitter.com/sSB2oZ7TCE— IRSnews (@IRSnews) April 18, 2022