Tuesday, April 15th is tax day. But if you're entitled to a refund and miss the deadline you won't be penalized for filing late.
If you miss the deadline and owe the IRS money, you'll face fines for failing to file and pay on time.
One of those penalties will continue to grow five percent for each month past the deadline you're late.
If you're owed a refund and don't collect it within three years the IRS can re-claim it.