Income Tax Filing Deadline on Tuesday

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One out of three people will file taxes on the very last day, according to Valerie Butler, branch manager for H&R Block on Rancier Avenue. "If you have a debt due it doesn't extend the date for payment".

And the turn-around time to get your refund is pretty fast: The IRS issues 9 out of 10 refunds in less than 21 days after a return is filed. "The information they need to prepare their returns won't come from those investments until after the summer".

There are a couple of ways to file for an extension.

Tax Day is Tuesday, but if you haven't filed those W-2s and 1040s just yet, there are still a few options.

You may want to make a contribution to your Tax Free Savings Account (TFSA), make an early 2018 contribution to your RRSP to get growth, contribute to your children's education through a Registered Educational Savings Plan (RESP) or put it into a Registered Disability Savings Plan (RDSP) if appropriate.

The failure to file penalty is 10 time more than the failure to pay penalty.

If you don't, you could be hit with interest and a penalty.

Rauschenberger says it's because millennial's, like myself, are used to using electronics so filing online comes naturally to us.

The IRS says extension returns need to be filed by October 15.

The share of high earners' income is also expected to increase from 2017 to 2018 - from 35.2 percent to 36.4 percent - but isn't expected to increase by as much as the share of taxes paid by high earners.

Politicians often claim that tax simplification is a universally held goal of tax reform.

It's estimated a year ago almost a quarter of Americans filed in the first two weeks of April.

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Firehouse Subs: Free medium sub (with coupon) when you buy a full-priced medium or large sub, chips and drink. By the time the fees are tallied, low income tax filers lose a good portion of their refunds and leave themselves exposed to excess risk in the event of an audit. If you are suffering a financial hardship, the IRS is willing to work with you.