Time is running out for Americans to file their taxes. Many will spend their weekend making last-minute calculations and getting documents together.

What You Need To Know

  • Taxes are due Monday, April 15

  • If you file an extension, your taxes will be due October 15

  • When filing an extension, you must estimate what you owe and pay that when filing your extension

Due in part to COVID-19, the Internal Revenue Service extended tax filing. That practice is over.

Monday, April 15 is tax day. That means your tax returns need to be postmarked and paid at the end of that day.

A local certified public accountant says a lot of 1099s have been delayed this year, so if you’re not ready, get ready to file an extension — but an extension is an extension to file the paperwork, not an extension to pay, so if you owe taxes, so you need to estimate and pay the balance by Monday or face penalties.

"The extension is not a huge form. It should just take a couple of minutes. It’s just a matter of getting your tax documents together," said Ronald Pratt, a CPA at Syracuse Wealth Management. "It has to be post marked by the 15th. And you need to do your best estimate of getting together the tax documents, so you do a reasonable estimate by the 15th. It will extend your due date to October 15. But again, don’t wait until the last minute.”

Pratt says people shouldn't procrastinate until April, and he recommends staying in touch with your accountant throughout the year so there are no surprises.

Tax professionals don’t want people to face a last-minute crunch. Pratt says leading up to April 15, when he arrives at the office early, his parking lot is full of cars people with no appointments, waiting for tax help.