Carlo Della Mea is a financial consultant in Boca Raton for Gilman Ciocia, Inc., a provider of tax and financial planning services. Securities offered through Prime Capital Services, Inc. Member FINRA/SIPC. Gilman Ciocia and Prime Capital Services are affiliated entities.

For information, call 561-361-7300 or visit www.gtax.com.

Last-Minute Income Tax Tips Taxpayers who haven’t yet filed their income taxes are encouraged to consult with a tax advisor to ensure they do not miss any legal credits and deductions to which they are entitled.

In the event that you can not pay your taxes on time, an extension of time to file does not necessarily mean you have an extension of time to pay your tax bill. An extension of time for payment may be available, though, if you can show payment would cause undue hardship. If you qualify, you will be given an extra six months to pay the tax shown as due on your return. Don’t let your inability to pay your tax bill in full keep you from filing your tax return properly and on time. It is recommended that you include as large a partial payment as possible to save you sizeable amounts in the penalties noted below.

•The “failure to file” penalty accrues at the rate of 5 percent a month on the amount of tax your return shows you owe.

•The “failure to pay” penalty accrues at the rate of ½ percent per month on the amount actually shown as due on the return.

Gilman Ciocia offers monthly workshops, freeof-charge in the Boca Raton area, and other areas of South Florida. To sign up, please call 1-800- TAX-TEAM or visit www.gtax.com/seminars.