Buffalo, N.Y. (WBEN) - April 15 marks deadline day to file your taxes. Esther Gulyas of EG Tax says the important matter is to file on time to avoid the stiffer penalty.
"The big penalty, if you owe money, is failure to file your return, that's 5% per month until it gets to 25%," warns the Tax Lady.
She says the smaller penalty, which is a half percent per month, is a failure to pay. But she says filing for an extension is not a get out of paying card.
"The extension only pertains to your paperwork, which can be sent in Oct. 15. But you have to have 90% of your liability paid with the extension in order for it to be valid," Gulyas said.
Gulyas says everyone is entitled to an extension.
"The important thing is to get a return in so that you don't have a failure to file penalty. And if you need to do an extension, be ready to pay the money with your extension," Gulyas noted.
Gulyas is opening her offices Monday to last-minute filers who can just walk in to get returns ready by midnight.
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