Updated: Fri, 30 Apr 2010 02:36:00 GMT | By THE CANADIAN PRESS, cp.org

Fetch the calculator: Income tax deadline is just a few hours away



TORONTO - Fetch the calculator . . . the deadline for filing 2009 income taxes is midnight tonight.

Ann Galvin, a Toronto-based chartered accountant, says if you have not filed and you have an estimate of how much you owe, send a cheque made out to the Receiver General, and at least you won't get hit by the late filing penalty.

Speaking with CTV, Galvin says filing "late is better than never," adding she knows of some Canadians who have not filed for two or three years "because they got embarrassed to file late the first year."

If you owe Canada Revenue Agency money and miss the deadline, you will be hit with a penalty of five per cent for the amount you owe.

In addition, you will be charged one per cent for each month your return is late up to a maximum of 12 per cent.

To accommodate the procrastinators, a handful of Canada Post outlets and Canada Revenue Agency offices across the country will be open until midnight.

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