April 17 is here: You have until midnight to file taxes

April 17 is here: You have until midnight to file taxes
(Source: WTOL)

(WTOL) - The tax deadline is here, giving you until midnight to file your taxes.

If, for whatever reason, you won't have your taxes filed by the deadline, you will need to file for an extension. The extension will push your deadline back to October 15.

TO FILE AN EXTENSION: Use Form 4868

The IRS is expecting 11.6 million taxpayers to ask for extensions, so if you need to file for one, you're not alone. Just remember, even though you extend, the government still expects you to make payments for what you owe on time.

If you don't make these payments, you could have penalty and interest charges adding up throughout that six-month extension.

If you're self-employed or have other first-quarter income where you pay quarterly taxes, make sure to get your form postmarked by April 17.

Failure to file could get you a penalty from the IRS, with five-percent of the balance due each month your return is late. This could equal up to a maximum of 25-percent of the balance.

If you need to file for an extension, you can file electronically or on paper.

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