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File taxes by midnight Tuesday to avoid late-filing penalties

April 16, 2012

Haven’t filed your taxes yet? Better get online or head to the post office because Tuesday is the deadline for filing state and federal income tax returns, extension requests and tax payments.

Taxpayers had an extra two days to file this year because the usual tax deadline, April 15, fell on a Sunday, and Monday was Emancipation Day, a holiday observed in the District of Columbia, according to an IRS press release.

“Taxpayers will avoid late-filing penalties if they file either their income tax return or a request for a tax-filing extension by midnight on Tuesday,” the IRS said in a press release. “The late-filing penalty, normally 5 percent per month based on the unpaid balance, applies to returns filed after the deadline. Taxpayers should file, even if they can’t pay the full amount due.”

The IRS offers several relief programs for those struggling with unpaid taxes, including payment agreements, extensions and “offer-in-compromise” agreements to settle a taxpayer’s liabilities for less than the full amount owed, the press release said.

Details on all filing and payment options can be found at www.irs.gov.

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