Missing IRS deadlines can carry financial consequences. Failure to file and pay a tax return on time can result in a penalty of 5 percent of taxes owed for each month or partial month the return is late.

Plus: Proposed regulations for “no tax on tips,” new tax forms, Roth catch-up contributions, charitable donation deductions, state and local tax deductions, tax filing deadlines, tax trivia and more.

Missed filing your taxes in April? The final deadline for late filers is October 15. Experts explain what you need to know — and how to avoid costly penalties.

Taxpayers who filed for an extension on their individual income tax returns this past spring should be advised that the Tuesday, Oct. 15, deadline is approaching. Those with a federal extension can submit their state returns without penalty through Oct.

House Minority Leader Hakeem Jeffries (D-N.Y.) on Tuesday rejected a short-term extension of ObamaCare subsidies as part of the effort to reopen the government, calling it a “laughable

The Internal Revenue Service began furloughing nearly half its staff Wednesday because of the ongoing government shutdown, sparking chaos and confusion among employees.