April 15 is Tax Day!

What is the significance of tax day?

• To celebrate the end of the tax year

• To file tax returns with the government

• To pay taxes to the government

• To receive tax refunds

What are some potential consequences of late filing?

• Tax refunds, tax credits, tax deductions, tax exemptions

• Penalties, fines, interest charges, legal action

• Tax audits, tax evasion, tax fraud

• Tax planning, tax preparation, tax compliance

What must taxpayers do to accurately report their income and deductions?

• Gather all necessary financial documents

• Ignore financial documents

• Guess their income and deductions

• Report income only

Taxpayers can file their taxes online, by mail, or through a tax professional with assistance from the (a)  

How do possible extensions for weekends or holidays affect the deadline for Tax Day?