Tax Preps: Time Is Running Out
Time is running out.
If you are a procrastinator you have until Thursday at midnight to settle up your bill with Uncle Sam.
If you haven’t even started the process, Raphael Tulino with the IRS says the best thing you can do is get to a computer.
“If you put all your paperwork in front of you, follow along with the software,” Tulino said. “Believe it or not, you don’t need to deal with any of the forms. It makes it so easy.”
The computer is also the best place to turn if you can’t get your taxes done on time.
Be sure to visit KESQ.com’s Tax Section with more help for you to file your returns.
A few simple steps on the IRS website will buy you 6 more months.
But its important to remember, the extra time is an extension to file, not an extension to pay.
“If you owe or you think you owe, April 15th is your deadline,” according to Tulino. “Otherwise you risk penalties or interest that could accrue on your account.”
If you can’t pay, speak up.
The IRS adopted a new policy last year with so many taxpayers struggling to make ends meet.
“Be proactive and we’ll work with you on it based on an installment agreement or based on the facts and circumstances around your situation to make it easier for the agency and easier on you to settle your tax obligation,” says Tulino.
For more information on payment plans: click here and for more information on filing for an extension, click here.
