LANSING, Mich. — Everyone knows April 15 is Tax Day, but if you're one of the15 million taxpayers who asked for an extension in the spring - October 15 is the day.
That's when the IRS extension deadline expires if you haven't paid everything you owe in taxes for last year, you will likely have to pay big penalty fees.
For those who still can't pay, the IRS will work out payment plans.
According to their website, "If you don't file, the failure-to-file penalty is 5% of your unpaid taxes for each month your tax return is late, up to 25%. The penalty starts accruing the day after the tax deadline."
Click here for more information.
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