News from Iceland is both cool and hot, as Alexandra Witze discovered while exploring the history and impact of the eruption of the island’s Laki volcano more than 200 years ago.
Tuesday, April 15, is the deadline for filing Form 1040 for calendar year 2014. It can prove expensive to miss the deadline because the law authorizes the Internal Revenue Service to impose a substantial, nondeductible penalty. Generally, the penalty is five percent of the balance due (the amount that remains unpaid after subtractions for taxes previously paid through withholdings from wages and quarterly payments of estimated taxes). The IRS charges five percent for each month, or portion of a month, that a 1040 is late.