TAX DEADLINE FRIDAY
By: Import User
Updated: January 7, 2009
If you are expecting a refund, don`t panic...but if you owe money, you better pay soon.
The sooner that you can get your tax payment in, the less you will accrue on interest and penalties, said Michelle Lamishaw, a spokesperson for the IRS.
Any amount owed to the feds is subject to interest charges. This rate, which is reviewed quarterly, stands at five percent a year, and is compounded daily.
Late filers need not to worry about interest and penalty fees if they are entitled to a refund, however, the government won`t hand over a check unless you file a return.
Filing an IRS form 4868 for an extension by April 15th, gives you an extra four months to send in your federal return, not your payment.
