If you still haven’t filed your taxes, well the clock is ticking fast, the deadline is at midnight Tuesday.
Some of us who are procrastinators wait until the very last minute – but local post offices aren’t playing that game this year.
20 to 25% of Americans wait until the last two weeks to file – and the percentage of those who wait until the last day are very slim – it’s safe to say you’re in the minority.
U.S. Postal Services Spokespeople say they’re not staying open late in Central Pennsylvania this year, and it’s a reflection of what people are encouraged to do, and that is file online.
One of our FOX43 Financial Experts, Rick Rodgers, sat down with FOX43 to give some tips for those who do wait until the last minute.
If you make less than $58,000 you qualify for something called free-file, meaning you can file for free.
Go on the IRS website, and click the free-file link, if you have a refund coming you can enter your bank information to receive a direct deposit.
But Rogers warns of mistakes, especially when you’re rushing.
“Some of the common mistakes are math errors and that’s something to check for. Make sure your math is correct. If you’re doing it with a computer program, it usually covers those math areas, so make sure you check those kinds of things. One of the other mistakes is not having your social security numbers match up. I would advise everyone to go through your tax documents, your 1099’s and your W-2’s and make sure your social security number is correct,” says Rick Rodgers, FOX43 Financial Expert.
For those procrastinators who are owed a refund, it won’t hurt to file late.
Penalties are only incurred if you owe tax.
Rodgers says if you don’t think you’re going to make the deadline, don’t push it.
“I would encourage you to file for extensions. If you don’t think you’re going to get it done make sure you file for the extension because that gives you another 6 months to file but it doesn’t give you 6 months to pay. If you’re filing for your extension do a quick estimate to see if you’re going to owe any money and maybe send in a deposit to make sure you have enough paid in because they will penalize and charge you and make you pay interest if you owe money but don’t pay until October,” says Rodgers.
Also going on today, three Pennsylvania lawmakers are expected to introduce new tax reform bills at the State Capitol.
The bills will remove impediments for small businesses, which aim to simplify the Pennsylvania Tax Code for small businesses, the state’s biggest job creators.
Stay with FOX43 for news on these bills.