It's Not Too Late to File Your Taxes

Still need to file your 2004 tax return? Not to worry. You can still file your taxes, using free tax software or any of the top-notch commercial tax preparation software.

If you filed an extension by April 15, 2005, you have little to worry about. Just prepare your return. If you have a balance due, the IRS will assess a late payment penalty of 0.5% per month plus interest of 6% per year.

If you didn't file an extension, you may have a late-filing penalty. This is assessed only when you have a balance due. If you have a refund, there's no penalty. The penalty is 5% per month of the balance due, up to a maximum of 25%.