Taxpayers have just hours left to file their returns as the May 1 deadline looms.

The deadline was technically April 30 at midnight, however since this date falls on a Sunday, returns will be considered filed on time and payments made on time if received or postmarked by May 1, 2017. 

By Friday, more than 20 million tax returns out of an expected 29 million had been filed with the Canada Revenue Agency.

Almost 90 per cent of those who have filed their returns did so online.

Latecomers face steep penalties, with fines of five per cent of the balance due and an and additional one per cent for each month of delay.

According to the CRA, taxpayers with debt problems still must file a return and may contact the agency at a later date to make an arrangement. 

With files from The Canadian Press