It's tax day, and it can be a bargain

Posted: April 17, 2012

Uncle Sam wants his money - now.

After all, he's waited two extra days.

The Internal Revenue Service granted last-minute filers a reprieve this year from the mandated April 15 deadline.

Why? In part, you can blame it on snail mail. April 15 fell on a Sunday, meaning post offices were closed.

And Monday marked Emancipation Day, which celebrates President Lincoln's signing of the Emancipation Proclamation freeing slaves. The IRS recognized the observance.

Still not ready to file? The IRS says not to panic.

Taxpayers can easily file for an automatic six month extension. But, they should also remember that this option only gives extra time to complete a 1040 - not to fail to pay.

So experts suggest sending the IRS a check based on the previous year's return. If you can't come up with that money, it's possible you might qualify for payment plans and other relief.

The IRS has a "Fresh Start initiative", which is penalty relief for unemployed taxpayers and self-employed individuals whose income has dropped.

Go to the Free File link at IRS.gov and file for the extension, which should only take a few minutes.

If you've already finished filing, it's a good day to take advantage of some tax day specials offered by restaurants and retailers.

Arby's is giving away free curly fries. P.F. Chang's is taking 15 percent off the entire purchase price of a meal, as is White Castle.

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