Last Minute Tax Filing Tips

Last Minute Tax Filing Tips

Lauren Day Connect

It’s tax day, and if you haven’t filed your taxes yet, you’re not alone. The IRS says 20-25% of all Americans wait until the last two week to file their taxes.

“You can see the lines at the post office. And there are procrastinators. They’re out there, waiting until the last minute,” says local CPA Sabby Jonathan.

If you’re in a crunch, Jonathan has some advice for you, “Jonathan and Associates! If you’re not comfortable filing your own return, then you need to cross your fingers and hope that there is a tax expert out there who can see you today.”

Otherwise you’ll need to do it yourself. Jonathan suggest using a software like Turbo Tax. He says, “you either file your return by the deadline, which is today, or if you need more time you file an extension.”

To file an extension, all you have to do is go to the IRS website, download the form 4868, but it’s important to note that submitting an extension gives you more time to file your return, not pay your taxes.

“Either you project and estimate the tax due and send that in today along with the extension to avoid penalties and interest. Or you literally pay to buy more time, so you don’t pay the taxes due, but the penalties and interest start accruing until you do file your return and pay your taxes,” says Jonathan.

If you did file early, well you probably feel no stress, at least not from your taxes. If you didn’t, you have until midnight.