The deadline for Americans to file taxes is Wednesday, and you either need to submit your taxes or file an extension before midnight.

"Some people call for extensions because they won't be able to make it in for today's deadline," M&E Taxes Owner Monica Hernandez said. "One of us from here in the office takes care of just filing the extensions for tonight."

If you planned to file by mail, the deadline passed at 5 p.m. If you plan to file today, the IRS website has free resources if you need them.

There are consequences if you miss the deadline.

"Whether it's that you didn't file on time, you still need to file. Don't get discouraged because you didn't meet the deadline. The sooner you file your taxes, the less chances you have to pay any high interest or penalties," Hernandez said.

Those interest rates start at 5% and go up to 25%.

Jose Hernandez says those penalties are something he tries to avoid at all costs. He says he usually asks for an extension.

"Usually I end up paying some money back; I haven't received a refund in a couple of years,” Hernandez said.

Others, like Daniel Navarro, are expecting the 2025 tax credits and deductions to result in a bigger return.

Cynthia Torres has her own business, Cynthia Torres Tax & Accounting Services, and says she works with her clients to get a maximum refund. One example is the deduction for adults older than 65.

"There's an additional standard deduction of $6,000 for seniors. It is phased out at different thresholds, so once you make over a certain amount of income, then that phases out. Generally, for our population in the Valley, they all qualify for it, so what the client has seen is tax savings," Torres said.

Other deductions include up to $25,000 for qualifying tips and no interest for car loans.

Whether you file today or plan to request an extension, it's important you do it before midnight to avoid penalties and issues with the IRS.

Watch the video above for the full story.