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Don't Worry, You Have Extra Time to File Your Income Tax
16 April 2018, 11:44 | Hattie Nash
Andrew Gombert—Epa REX Shutterstock
Tax Day is four days away.
- Two North Carolina tax preparers are headed to prison after admitting they filled out hundreds of fake tax returns involving more than half a million dollars.
Free File Alliance is a nonprofit coalition that provides free electronic tax services for people with an adjusted gross income of $66,000 or less, between the ages of 17-50, active duty military, or qualify for the Earned Income Tax Credit.
Both the Rockingham County Sheriff's office and the Staunton Police Department said they have received complaints from people who are getting scam calls. If you haven't filed yet, experts say you need to file for an extension.
If you plan to submit an extension form to the IRS, you must submit form 4868.
If you try to file, and are missing a document, you can file for a six-month extension. "This penalty is larger than for not paying any balance due", advised Gil Charney, director at The Tax Institute at H&R Block.
Of course, the sooner you file the sooner you get your refund, if you're due one.
Officials are reminding people if the IRS does need to contact you, they will do it through a letter. However, they're more than happy to hang on to the money they owe you if you don't. But previous debts to the IRS last until they are fully paid.
The recent tax law changes in 2018 have also changed the tax withholding tables, so taxpayers should use this IRS-provided calculator to get a better estimate of how much tax should be withheld to reduce their yearly refund and increase their paychecks.
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