IRS has answers to a few last-minute questions

Whether you've waited to file your tax return because you owe Uncle Sam, or if you've simply put it off, it's a day of consequence. The IRS has answers to a few questions that may be lingering:

What if I can't get it done on time?

You can get a six-month extension by filing Form 4868 by today. But any tax owed must be paid by April 15 or you'll face interest charges and possible penalties.

I might have made a mistake on my return. What should I do?

Many math errors are caught in the processing. If you did not attach a required schedule the IRS will ask you for the missing information.

If you did not report all your income or did not claim a credit, you can file an amended or corrected return using Form 1040X. See irs.gov for the form.

Can I send an amended return electronically?

No, it must be filed on a paper and mailed.

I received a refund that is more than I should have because I discovered a mistake. I have not yet cashed this check. What should I do?

If the mistake was not corrected in processing, file Form 1040X. If you return the refund check with a letter of explanation, a refund in the correct amount will be issued.

Home-grown returns

Of the 140 million returns processed in 2007, about 22 million -- 16 percent -- were filed online.

Some 80 million were filed electronically.

This year, the IRS expects 24 million will be filed online.

Prepare to shop

The Internal Revenue Service start sending more than 130 million economic stimulus payments of up to $600 starting May 2. The first round of payments will finish in July.

When you receive yours depends on the last two digits of your Social Security number. The lower the number, the faster you'll get it. So you may receive your check before or after your neighbors or family members.

Seniors, veterans and low-wage workers who normally don't pay income tax still must file a return to receive their check. But they have until Oct. 15.

Taxes through the years

1862 - President Lincoln signs a measure to help pay Civil War expenses, creating the nation's first income tax. It levied a 3 percent tax on incomes between $600 and $10,000 and a 5 percent tax on incomes of more than $10,000.

1954 - The filing deadline for individual tax returns moves from March 15 to April 15.

1986 - Limited electronic filing begins. President Reagan signed the Tax Reform Act, the most significant piece of tax legislation in 30 years.

1996 - Taxpayers are allowed to file online.

For the records

Staples stores are offering to make a free copy of your tax return.

A dubious honor

Chicago tops the list of procrastinating cities, determined by online filings via the TurboTax Online service from April 14-17, 2007. New York and Houston followed.

Sources: Reuters, irs.gov.