Every year, taxpayers find themselves in a situation where they simply can’t pay the amount they owe on April 15. If that happens to you, consider each of the following tips to make sure you don’t accidentally put yourself in an even worse position.
Don’t think you can escape penalties by not filing. If you don’t file, you’ll owe a 5% per month penalty for not filing. For any month that the failure-to-file penalty and the failure-to-pay penalty both apply, the 5% failure-to-file penalty is reduced by the failure-to-pay penalty.
If you really need extra time to prepare your tax return, you can file an extension with TurboTax by April 15 to request an extension until October 15 to avoid nasty 5%-per-month penalties for late filing and late payment.
The tax deadline is just a day away, but you still have time to go online and file your taxes. The IRS reports that more than half of taxpayers have already filed their returns and more taxpayers filed from their home computers this year, up 6% from last year. If you’re in the 20 to 25% who waited until the last minute to prepare your taxes, here are some steps to help you file your taxes by the tax deadline and get a bigger tax refund.
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One of my buddies was just starting on her taxes. If you’re in a similar boat as my friend, I want to give you a few tips on getting your taxes done.
If you are a Millennial, you might be filing your taxes for the very first time, or perhaps this is only your second or third time filing taxes. As you get ready to file your taxes, here are some last minute things to keep in mind: Full story
A stressful, mad dash to file your taxes before the deadline can lead to errors and missed credits or deductions. Let’s go over some last minute tax tips to help you file [correctly] before the deadline.