Ah, spring. As you watch the trees and flowers blossom, your thoughts turn to warmer weather and the arrival of your income tax refund check. Perhaps you have already made plans to spend those funds on a home improvement project or a luxurious weekend getaway.
The April 18 tax deadline is fast approaching, but if you haven't filed yet, there's no need to panic. While more than half of taxpayers have already filed their returns, each year about 20 percent wait until the last couple weeks to file.
A balance owed to the IRS could result in large fines and put a ding on your credit report. So if you missed the tax deadline, be sure to follow these steps to hopefully avoid most of these consequences.