Today is tax filing day. If you haven’t completed your return yet, you’re not alone – the IRS reports nearly 50 million people still haven’t filed their tax return.
So what can you do?
John P. Heckler CPA from Heffler, Radetich and Saitta joined us to give us tips to getting everything in without having to pay a fine.
Make sure to double and triple check your information. It’s easy to make a mistake when you’re rushing to get your paperwork in.
File electronically. If you file electronically, you’re going to get your return back much faster than if you mail it in.
Need extra time? File Form 4868 to get an extension. You can get it online. Filing the form only gives you six extra months to file your tax return, it does NOT give you six months to pay money. That money is due today.
And finally, what do you do if you can’t pay your tax balance due? If you can’t pay, still file your return. If you can pay a small amount, get that in. You can arrange a payment plan with the IRS.