Tax deadlines for 2008 Taxes---File Your Return on Time

The filing deadline for 2008 personal tax returns is April 30, 2009. For self-employed persons (if you or your spouse carried on a business in 2008, other than a business whose expenditures were mainly in connection with a tax shelter), your return for 2008 has to be filed on or before June 15, 2009. Keep in mind however that any taxes owing are still due on April 30, 2009. Interest will be charged on late payments.

To avoid paying penalties, ensure you file your tax return by the filing deadline even if you are unable to pay the tax owing. Interest will accrue on the balance owing, but you will avoid the penalty of 5% of the unpaid tax at the time the return is due. You will also avoid a further penalty of 1% of the unpaid tax times the number of months the return is not filed (to a maximum of 12 months).