WESLACO – The deadline for those who were granted an extension to file taxes is approaching.

Taxpayers must submit their taxes by Monday, Oct. 15.

One resident tells CHANNEL 5 NEWS he owes taxes this year and is concerned he won’t file on time.

KRGV’s Frank McCaffrey spoke with a tax professional, Amanda Alfaro, about the consequences of filing taxes late.

“It has to be post-dated with, marked today, for it to count so there won't be any increase in penalties or taxes,” she explains.

Alfaro says the IRS will assign interest penalties to the payment if taxes aren’t post-marked by midnight.

Watch the video above for more information.