New York, NY (WIBX) - If you missed the deadline to file your taxes--don't panic. You actually still have time. Dianne Besunder is our region's IRS spokesperson. She says in most cases late filers will get penalized for missing the deadline.

"Unless they show reasonable cause as to why they were late and they can explain that. There are people that are due refunds and even if you're subject to the penalty, it's 5-percent--this is for the balance due--per month, but if you do it right away it's only going to be for one month," she said. But, she says if you put off filing your taxes, the penalty will accumulate every month.

Although it's too late to ask for an extension, Besunder says late filers can still file their taxes electronically on the IRS website, The deadline to e-file is October 15.