We respect your privacy. All email addresses you provide will be used just for sending this story. Tax experts say that the most important thing to do if you owe the IRS is to file your return on time, owe tax money make multiple payments if you can’t pay. The federal tax deadline is midnight, April 15 except for Maine and Massachusetts residents, who have until April 17, thanks to state holidays. Your taxes are still due on the tax deadline. The IRS charges a penalty that amounts to 5 percent of the balance.