Stop Procrastinating: Last Minute Tax Tips to help You File by April 17th!
With the tax deadline less than two weeks away, millions of taxpayers are scrambling to get organized and file their tax returns by April 17th.
According to the IRS, 28% of Americans wait until these last few weeks to file. However, you may want to think twice about procrastinating any longer. A TurboTax study conducted by Harris Interactive found that 60% of Americans say someone is more attractive if they don’t procrastinate in financial matters, including filing their taxes.*
Need a reason to stop procrastinating on filing your taxes? That’s what we are here for. Did you know that about ¾ of taxpayers get a tax refund and the average refund is almost $3,000? That’s a lot of money, and more than half (57%) of U.S. adults who receive a tax refund agree that the day their refund arrives is as exciting as a holiday or their birthday! So why wait…
Here are a few last minute tax tips to help get you started:
- Contribute to an IRA – Even procrastinators can save money on their taxes. You have until the April 17 deadline to contribute to an IRA and get a deduction.
- Remember charitable contributions – Donations such as clothing, electronics and toys you may have donated can also add up to tax savings if you itemize. Even mileage to and from volunteering could be tax deductible.
- Go online – Taxpayers can go online to TurboTax and prepare and e-file taxes up to the last minute – it’s fast, easy and convenient. Plus you can file from virtually anywhere using your mobile devices. TurboTax has mobile apps for Android phones and tablets, including Kindle Fire, as well as iPhone and iPad, make filing on the go a breeze. Now you have no excuses, even when you’re on the go.
- Need answers? – Ready to file, but have a few questions you need answered first. Don’t worry, you don’t have to pay an arm and a leg to speak with a tax expert, you can get answers free of charge from a highly qualified tax expert. TurboTax has tax experts (100% CPAs, EAs or tax attorneys) standing by to answer your tax questions by phone or chat – for free!
- Need more time? – Taxpayers can get an extra six months to file, until Oct. 15, by filing a tax extension with TurboTax for free. But remember, an extension to file is not an extension to pay taxes. If you file for an extension, you still need to pay (within 90 percent accuracy) by April 17 to avoid late penalties.
- Can’t pay? – You’re not alone. Taxpayers who can’t pay their full bill can request a streamlined installment plan. You may qualify for a streamlined plan as long as you don’t owe more than $50,000, have an income of more than $100,000, and you must be able to pay your tax bill off within six years.
- E-file for a faster return submission – TurboTax offers free federal e-filing, plus e-filing of your state for an additional charge. Not only will you get your refund faster with e-filing, you’ll also get to avoid the crazy lines at the post office.
So stop procrastinating and file today!
* Among those providing a response
The survey was conducted online within the United States by Harris Interactive on behalf of TurboTax from March 16-20, 2012 among 2,185 adults ages 18 and older. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables, please contact Laura Schmidt (415) 392-8282