Today is Tax Day, the day your yearly income taxes are due. You must pay your taxes now if you owe the government, but if you file for an extension, the paperwork isn't due until Monday, Oct. 17.
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Not everyone has to ask for more time. Disaster victims, taxpayers serving in combat zones and those living abroad automatically have additional time to file. An extension of time to file will also automatically process when taxpayers pay all or part of their taxes electronically by today. Although you can get an additional six months to file, interests and fees could be tacked on to any taxes that are not paid in full.
Tax Day Freebies
As long as you are giving you might as well get. Stores, restaurants and service providers are handing out freebies today in an effort to ease your pain.
Among the offers: Office Depot will make you a free copy of your tax return, and Cinnabon will give you two free Cinnabon Bites.
ABC News has put together a list of deals and freebies here.
Merchant credit card fees going up
Every time you swipe your credit card, a bunch of people get paid a percentage of the purchase price. Banks are part of that gang and later this month they are set to get a bigger chunk as Visa and MasterCard say they will up the fees that go to banks. Right now that hovers between 1 and 3%.
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Now retailers are balking and lawmakers are asking the credit card giants to back off the new fees.
The reason is retailers will need to charge more and they will pass those costs along to consumers.
Take a look at more stories and videos by Michael Finney and 7 On Your Side.
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