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The first day to file taxes with the IRS will officially start on January 23. However, you can get started at anytime with online tax filing and get your refund as soon as possible. Four out of five returns have also been projected to be prepared using tax return software and e-filed.
Filing a tax extension gives you six extra months to file your tax return (5 months for certain business entities) But if you owe taxes, the IRS requires that you still pay by the original due date of your return (typically April 15 for individuals and March 15 for businesses).inally, there is a late filing penalty (also called the failure-to-file penalty) which is imposed if you owe tax to the IRS and you donât file on time. This fee is 5% of the unpaid taxes, assessed on a monthly basis, up to a maximum of 5 months.