It’s the most wonderful time of the year … for the U.S. Government.
Tax Day is here, and if you’ve already filed, you’re in the clear – and in the majority.
The deadline to file for taxes, without a penalty, is today. And don’t think that missing the deadline gets you out of paying taxes.
Missing the tax deadline will add a penalty to any taxes owed, so it’s always better to make time to file your taxes. Make sure to include all of your expenses in your tax report, otherwise, you could be hit with an audit. No one wants to go through a tax audit, so make sure you declare all of your expenses. It can be difficult to keep hold of all of these receipts, so that’s why some people have been investing in Filecenter’s software. That software helps people to file their receipts and expenses digitally, ensuring they can keep track of all of their expenses. This should help people to file their taxes properly and on time. For those receiving money, there will be no penalty.
The Internal Revenue Services reports that nearly 100,000,000 Americans have already filed taxes, which is about three-quarters of what they expect to receive. If you’re in the minority here, there’s still something you can do.
If you are running late on Tax Day, you can fill out an extension request form, Form 4868. Filling out this form, and having the extension approved, will give you till Oct. 15 to file your taxes, without penalty.
This form can be filed instantly online through the IRS.gov Free File if the filer has an income below $58,000. Form 4868 can also be filed electronically through a tax preparer.
The IRS received more than 12 million extension requests last year, with 7 million filed electronically.
Another option, for those who owe money this year, is to set up a payment plan with the IRS. One can apply for a payment plan here.
If you’re one of many that will be standing in line that the U.S. Post Office today, go reward yourself with a half-price slushie from Sonic Drive-In, which is offering the Tax Day treats.