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It's the final countdown.......for taxes

The countdown has now begun and you don't much time until the tax clock strikes zero.

The final countdown has now begun and you don't much time until the tax clock strikes zero.

The nation’s tax deadline is April 17th.

If your taxes are not done yet then there are still options for you.

Filing an extension with the Internal Revenue Service would push your deadline back to October 15th.

Liberty Tax Service in Quincy says you still have time to get your taxes in.

"It's not too late to do your taxes. We have already had several clients in today trying to get them filed before the deadline. We have a few more to finish up before tomorrow, and I'm sure we're going to be busy tomorrow with last minute filers," stated Beverly McCutcheon with Liberty Tax Service.

Even if you can not pay your taxes by tomorrow, you are encouraged to at least file them.

The failure-to-file penalty is much higher the the failure-to-pay penalty.

According to the IRS, the failure-to-file penalty is normally 5 percent of the unpaid taxes for each month or part of a month that a tax return is late. It will not exceed 25 percent of your unpaid taxes.

The failure-to-pay penalty is generally 0.5 percent per month of your unpaid taxes. It applies for each month or part of a month your taxes remain unpaid and starts accruing the day after taxes are due. It can build up to as much as 25 percent of your unpaid taxes.

If you file late and pay late you could be hit will both penalties.

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