Tuesday is April 15, which means it is tax day. 

If you file your taxes late, but do not owe money, you will not face a fine on your return. 

Budget cuts and new responsibilities are placing a strain on the IRS. This means fewer Americans will be audited than in years past. 

However, if you owe money and file late, you will be slapped with a 5 percent penalty for each month you do not pay.