Midnight tonight is the slated deadline for filing the 2009 taxes.

If you fail to file and owe tax, the Canada Revenue Agency will proceed with its legal action.

Ann Galvin, a Toronto-based chartered accountant, posts that if one is unable to file and one has an estimate of how much he or she owes, send a cheque in favor of the Receiver General, and at least he or she won’t have to face the late filing penalty.

Speaking with CTV, Galvin says filing “late is better than never,” adding she knows of some Canadians who have not filed for two or three years “because they got embarrassed to file late the first year.”

The law outlines that if you owe Canada Revenue Agency money and fails to file by the stipulated deadline, one would have to pay a fine of five% for the amount.

Moreover, one will be have to face a charge for each month one’s return is late up to a maximum of 12%.

It is reported that many Canada Post outlets and Canada Revenue Agency offices across the country will be open until midnight with an aim to accommodate for those who are used to put things for the last moment.