The deadline for filing federal and state tax returns is quickly approaching. It's a good idea to start gathering your documents together now so you can file on time.
The Internal Revenue Service (IRS) grants taxpayers an automatic extra amount of time to file before they owe any penalties - this is known as the "tax extension deadline".
This year, the deadline for taxpayers to file their returns was May 17th instead of April 15th. However, you were able to file an extension to get more time for filing your return.
Filing tax extensions are common because people are busy with work and family during the spring months. If you are expecting a refund, the IRS says it could take up to 16 days for your return to be processed once it is accepted.
The tax extension deadline is September 15th - and remember - you still have to pay taxes due by October 17th. If you owe taxes and don't file and pay on time, you will face penalties and interest charges on any amount not paid by the tax deadline.