ROANOKE, Va. – Monday was the deadline to file federal tax returns.
If you forgot of didn’t file for an extension, tax experts at Neeley’s Accounting Services in Roanoke say you should file your taxes immediately.
You can avoid a penalty if you are eligible for a refund from the IRS.
But, if you owe money, you could be hit with a late fee on top of the money you already owe.
“It’s going to be based off what is due. Unfortunately, the IRS is not very open with how they calculate those. Usually, if it’s only a few hundred dollars it shouldn’t be too bad, but if you do have larger balances due it could get up into the thousands of dollars,” said Katie McFalls, a CPA at Neeley’s Accounting Services.
If you already filed for an extension on your taxes, that return will be due Oct. 15.