Taxpayers who are generally due a refund have to file by the April 15th deadline every year; returns with refunds coming have 3 years to file.

However, you could lose any refund due if the 3 year deadline passes.

If there was a balance due then file by April 15th or file an extension which will give you until October 15th.

There are 2 penalties to be aware of. The failure to file and failure to pay. So, if you have a balance due but don’t file until October then you may still incur the failure to pay penalty. 90% of your yearly tax bill is due by April 15th.

The object is not to have a large refund at the end the of the year. This means you over withheld and let the IRS hold your money interest free all year. Save your own money. Then, in the event of a government shutdown or personal emergency, you’re not desperate for that money.

Ally bank offers great rates for savings accounts.