Deadline for 2023 Federal Tax Filing Approaches

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Monday marks the deadline for individuals to file their 2023 federal taxes without facing penalties and late fees. The IRS offers options for those needing more time to file, but these options may come with additional costs. Extensions can be requested until October 15, but penalties and interest will continue to accrue until the tax balance is paid in full. The IRS estimates that 19 million Americans will file for extensions this year.

Monday marks the deadline for individuals to file their 2023 federal taxes without facing penalties and late fees .

The IRS said penalties and interest will increase until the tax balance is paid in full. The IRS also says it can set up payment plans for those struggling to pay back taxes, but again, penalties and interest will apply in those cases. The IRS says the average refund check this year has been $3,011, which is up from $2,878 this time a year ago. SEE MORE: Tax day is Monday. Here's how to reduce stress and get your taxes done

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