The Automatic Millionaire - Seven Very-Last-Minute Tax Tips

Procrastinators, take action! Here are seven cut-to-the-chase tips for filing your return with the least pain for you -- and the least gain for the tax man:

1. Get Going

I know -- filling out your Internal Revenue Service (IRS) return isn't one of life's greatest pleasures. But the money you'll save in taxes by doing a thorough, on-time filing makes it all worthwhile.

On the other hand, rushing through your return at the 11th hour is a great recipe for making mistakes that can add to your tax bill. So start now, and be as deliberate as you can. If you really need more time, apply for an automatic extension -- this year you can ask for an additional six months.

Most of all, don't let your inability to pay the tax you owe stop you from filing. Even if you just pay some of the tax on Apr. 17 (this year's deadline) and some later, you can greatly reduce penalties and interest costs. Or you can charge your federal tax bill to your credit card. While not ideal, your credit-card interest may well be less than the penalties and interest the Feds will hit you with if you don't file. The IRS Web site has more information on paying taxes with a credit card here.