It’s Tax Day: What you need to know before the deadline

ROANOKE, Va. (WDBJ) - April 18th is tax day this year and you have until midnight to file your federal taxes.

More than two hundred million people have filed their taxes so far this year, according to the IRS website. But if you’re not one of them, you need to file your taxes by midnight Tuesday night.

If you need more time you can file an extension. You can use the IRS free file application to electronically request an automatic tax-filing extension.

If you fill one of those out, you will have until October 15 to get your taxes done. And if you don’t pay your taxes or ask for an extension, tax experts say there will be consequences.

”If you don’t file your return, first of all, any unpaid taxes, you’re going to pay interest on. There’s two separate types of penalties for failure to file, so it’s a failure-to-file penalty, which goes up to 25% of the unpaid tax, as well as a late payment of the tax. So you basically have a lot of money that you’re going to be paying on top of the tax,” said David Ragland, Certified Financial Planner & CEO of IRC Wealth.

To make Tax Day a little sweeter, Krispy Kreme has a sweet deal. You will only pay the sales tax for a dozen of the original glazed donuts at certain locations.

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