ROCHESTER, N.Y. — Tuesday is the deadline to file your taxes and a local expert has some last minute advice.
The deadline typically falls on April 15th, as long as that's a business day, but it can't be Monday because of a little-known holiday celebrated by Washington D.C. — Emancipation Day — that has federal offices, including the IRS, closed. Hence the April 17th deadline.
Jim Schnell, the head of the tax department at Mengel Metzger Barr and Company, says it's important to either submit your taxes or file an extension by tomorrow's deadline.
"One of the most severe penalties that a taxpayer could incur from the IRS is a failure to file penalty," Schnell said. "And filing an extension by Tuesday eliminates the possibility of that penalty being applied to your return."
Schnell says if you're short on money, the IRS has a convenient one-page form to make payments in monthly installments.