Even though April 18 is the tax-filing deadline for most people, some taxpayers in special situations qualify for more time without having to ask for it, according to the Internal Revenue Service. The special June 15 deadline also applies to members of the military, on duty outside the US and Puerto Rico, who do not qualify for the longer combat zone extension.
The process and requirements for filing for a state tax extension vary.
Arizonans have until Tuesday to claim close to $25 million in tax refunds left on the table from the 2013 tax season, part of more than $1 billion nationally in unclaimed refunds from that year. And while the monthly penalty for not filing is higher than it is for not paying, H&R Block (NYSE:HRB) also advises taxpayers to pay at least 90 percent of their 2016 tax bill by the April 18 deadline to avoid penalties.
And if you have a refund coming, you don't have to file today, Veldt said.
If you haven't filed your taxes, you only have two more days to do so. Thus you could decide to keep your tax-deferred account distributions and capital gains below $13,000, and if you need more income than that, you could take a distribution from your Roth account. Some states offer automatic six-month extensions to file your state income tax return. To get the extension, taxpayers must estimate their tax liability on this form and pay any amount due.
Over the past year, the Tax Section of the ABA has been working with the IRS to address the problems.
There are several ways to do this.
The department encourages filers to use e-file software, which is a quick and convenient way to file, especially with the deadline looming.
VITA/TCE - Free, in-person volunteer help is close by through the Volunteer Income Tax Assistance program or Tax Counseling for the Elderly.
President Rodrigo Duterte said in his visit to Qatar over the weekend that Tan owed the government P30 billion in tax liabilities.
Filing for that extension involves filing Form 4868 by the April 18 deadline, which will extend the due date of your full return for six months to October 16, 2017.
"Please take your time and carefully follow all instructions to ensure you're filing an accurate return", said Deputy Treasurer Glenn White, head of Treasury's Tax Administration Group. If you have any kind of paper trail, expect the IRS to find you eventually.
If you owe the IRS money, it might make sense to wait as long as possible to file your return. So although seeking an extension past the due date might seem like a good idea, you should file for a tax extension only if absolutely necessary. If you're down to the wire, you're much better off filing your return electronically and eliminating much of the hassle.
Previous year the Wisconsin Department of Revenue received more than 3 million tax returns, they say 85 percent of those were filed electronically.