This extension applies for filing and paying income tax that is due, however, even if you qualify for the extension, if you owe taxes you will be required to pay interest on any tax not paid by April 18.
The IRS notes a sharp decline in tax returns filed in the first half of this year’s filing season.
The corporate income tax return filing deadline had previously been March 15.
State tax revenues increased by 2.1 percent in March from where they were a year ago, Gov. Nathan Deal’s office announced on Monday.
This is the second year in a row that taxpayers have had three extra days to file.
If you need more than 120 days, you might be able to sign up via the IRS website for a monthly installment plan as long as you pay your tax debt in full.
In general, he said, the IRS penalty for late filing is 5 percent a month up to a total of 25 percent of the unpaid tax.
If you’ve used Turbo Tax or H R Block before both of the companies have a do it yourself apps to help you file. “The only way to prevent it is to guard your social security number as much as possible and file your tax return early, to beat the scammers to the punch”, Zimmermann said.
Need More Time to File?
He says one suggestion is taking a look at your return from a year ago and making sure you’re not missing anything.
The IRS Choosing a Tax Professional page has information about tax preparer credentials and qualifications.
Kelley made hundreds of thousands of dollars from her scheme and caused a tax loss to the government of more than $495,000.
But if you overlooked filing for previous years, now might be a good time to get cracking. “Calling us to check your refund status won’t get it into your bank account any faster; Friday isn’t the only day during the week that we directly deposit refunds; and if you’ve been audited before, it doesn’t mean we’re scrutinizing your return more than anyone else’s”.
Rushing to submit a return that you have not thoroughly reviewed is also a bad idea. The Taxpayer Advocate Service, a site that serves as the voice of taxpayers within the IRS and a source of help for problem resolution, issues tweets from @YourVoiceAtIRS.
• The IRS and the third-party contractors won’t ask for debit or credit card numbers over the phone – they’ll just help you set up payment options.
“I think it can be confusing because you get a lot of confusing phone calls anyway, and then you have the IRS potentially”, Bruce Bolesky, of Latham, said.
If you mail a return from outside the United States, the date of filing is the postmark date. She teaches tax and financial accounting classes at the undergraduate, graduate and MBA level.
The IRS provides tax information in Chinese, Korean, Russian, Spanish, and Vietnamese.