Countdown to Tuesday's tax filing deadline

by Frankie Norman April 18, 2017, 0:54
Countdown to Tuesday's tax filing deadline

The best thing you can do if you know you are going to miss the deadline?

The IRS expects about 18 million people to file in the last week, and an additional 12 million returns to be received after the deadline. You don't have to pay immediately.

To avoid late filing charges, Jaen called on local taxpayers here to settle their obligations. Of course, to know that you have a refund coming, you need to put the work in to determine that.

But as more people file electronically, it's easier to wait until the last minute without the hassle of waiting in line. And if you owe Uncle Sam, you may soon have to answer to private debt collectors.

However, Jonathan Horn, senior manager for tax policy and advocacy at the Association of International Certified Professional Accountants, offers a different take. Taxpayers are reminded that an extension of time to file is not an extension of time to pay.

This is a problem for more than individual taxpayers, as the dollars they don't claim in refunds are dollars they do not spend, could potentially stymie economic development and stimulus in their communities, Blau said.

Extensions, however, do have a major caveat: The IRS gives you extra time to file, but not to pay. And filing may turn out to be not as bad as you think. If you detest the mail like me, you might be wondering if it's safe to file your taxes online. "These ruses generally urge taxpayers to give up sensitive data such as passwords, Social Security numbers and bank account or credit card numbers".

"Although you aren't required to make a payment of the tax you estimate as due, Form 4868 doesn't extend the time to pay taxes".

If you have questions, you can contact the IRS by phone at 1-800-829-1040.

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Some have suggested that the United States adopt a flat tax, which taxes every person at the same rate, regardless of income bracket. "It is not an extension of the time to pay". "I hope they do it fast... it was only last month when we sat down", Dulay told reporters.

If you plan out your financial moves instead of just taking money from this account or that one, you can reduce your tax burden significantly.

Individuals, businesses and others that need more time to file typically need to file for an extension with the Internal Revenue Service.

I can't file on time. The deadline is usually April 15 but since it fell on a weekend, taxpayers this year got three more days to file.

The deadline to file your taxes is April 18.

Duterte said Tan should pay more than P30 billion in tax liabilities to the government, as the Chief Executive vowed to run after oligarchs with tax liabilities. That's one-fifth of all those filed in 2016, a 24 percent surge in late-season filings from the previous year.

"Right now, we do not see any big company not paying taxes".

Now you may be thinking: "How can I pay my taxes if I haven't calculated my final bill?"


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