Few more days to file taxes
Published 12:50 am Saturday, April 14, 2012
Television has been recently inundated with commercials relating to tax season, and from H&R Block to Turbo Tax, filing your taxes can be a daunting task. And while you’re gathering last-minute items, tax professionals say don’t forget to file by Tuesday, April 17.
Filing your taxes can be easy as making an appointment with a tax professional. If you’re filing for the first time, there are some necessary documents you need to bring with you.
“You’ll need to bring your driver’s license, Social Security card and W-2s,” Ashley Smith, with Vintson Fast Tax in Selma, said. “If you have dependents, bring their Social Security cards.”
Those who cannot file on Tuesday can choose to file an extension but will have to pay a penalty. Extension dates will begin in October.
Smith said there are additional items filers can bring with them if they’ve filed before.
“Bring your W-2s and information of expenses, like money spent on uniforms for work, mileage, energy saver stove or doctor’s visits et cetera,” Smith said.
Smith said individuals can get their taxes through mail, e-file, which will be sent directly to your bank account or by rapid refund, which takes seven to 13 days.”
The IRS gives tips to keep in mind before you file.
File your return on time and pay as much as you can with the return. These steps will eliminate the late filing penalty, reduce the late payment penalty and cut down on interest charges.
Consider obtaining a loan or paying by credit card. The interest rates and fees charged by a bank or credit card company may be lower than interest and penalties imposed by the Internal Revenue Code.
Request an installment payment agreement. You do not need to wait for IRS to send you a bill before requesting a payment agreement.
Request an extension of time to pay. For tax year 2011, qualifying individuals may request an extension of time to pay and have the late payment penalty waived as part of the IRS Fresh Start Initiative.
If you receive a bill from the IRS, please contact the IRS immediately to discuss your options. Ignoring a bill could be problematic.
For more information, visit www.irs.gov or call 872-4488.