It is done to steal financial information and to steal your identity or get hold of your finances.

The penalty for failing to pay is much smaller than the penalty for failing to file.

The number of extensions goes up every year. We expect more people to procrastinate.

It's safe, easy, and accurate. The error rate of an e-filed return is less than 1 percent. The error rate of paper returns is 20 percent.

We are pretty much a nation of procrastinators. We do expect more people to file extensions this year ... But it's not an extension to pay. Any amount paid late would be subject to late fees.

You should not panic. If you are unable to file a timely or accurate return, then you need to file an extension.