"Other tax documents, like a K-1, may not have gone to taxpayers until mid-March, giving them a shorter window to complete their returns". "Neither are good options", Agel said.
"Eighty-five percent of tax returns are filed electronically now", he told MTN News. Along those lines, there is no penalty for filing a late return if you're entitled to a refund.
Even though tax day is here, there is still time to settle your IRS tax debt if you use one of the methods above.
Procrastinators, don't despair. There is still time to file your taxes - but not much. Once your return is filed with the IRS, the information - most notably your Social Security number - is locked and can not be used by anyone who might want to fraudulently claim a tax refund. Employment income is the most common type of income from which tax is deducted at source and therefore employees are the tax filers who are most likely to get refunds each year.
Many businesses around the country are offering rewards to tired taxpayers. Some people may be wondering, "Well, what if I just choose not to file my taxes?" And you still have to pay by that time to avoid penalties.More news: NVIDIA Corporation (NVDA)- Critical Performance Analysis under Limelight
BJ's Restaurant & Brewhouse: The day after Tax Day is the chain's Free Pizookie Day.
The U.S. Post Service is not extending any hours in Northern Nevada for the tax deadline. The IRS anticipates receiving more than 11.6 million requests for extensions, pushing the income tax deadline out to October 15.
On top of all of those benefits, this week the House is voting to make some major reforms at the IRS.
If tax season has you tapped out, it might be time to treat yourself!
A delinquent tax return or late payment can result in dire consequences, such as, collection activity, a lowered credit score, the loss or revocation of your passport, driver's license, and professional license or business license.
Williams says, "They just have to remember that by filing the extension that just gives them an extra six months to file their taxes, but if they do owe money, the money that they owe is technically still due on April 17th".