Tax Deadline Arrives

4-15-05 - UNDATED (AP) It's do or delay time, when it comes to taxes. Today is April 15th, the deadline to either file your returns or ask for an extension.

This comes as some members of Congress are making their traditional push to rewrite tax laws in an effort to simplify the process.

Congressman Mike Pence is pushing for a "flatter and fairer" system that eliminates what he calls the "tyranny of anxiety" that everyone feels on April 15th.

The President's Advisory Panel on Federal Tax Reform plans to issue a report in a few months.

If you waited until now to begin filling out your tax forms, you may run out of time.

The National Taxpayer's Union estimates it takes almost 27 hours to prepare the Form 1040 and its most common supporting schedules.

But ominously, the group's president says those numbers probably understate the time involved.