7 tips for procrastinating taxpayers before the deadline

First, don’t do this again, advised Joel Veldt, a certified public accountant and tax preparer with the firm of Ladd and Carter.

“In the state of Florida we had a major issue with identity theft so congress has passed the PATH act, and they have adjusted some things”, said Clark. For example: one easy trick could pay you as much as $16,122 more. each year!

For this year, the BIR expects a full-year tax collection target of PHP 1.829 trillion to fund massive infrastructure projects under the administration of President Rodrigo Duterte.

“Frankly, I am not aware of any pending case against Mr. Lucio Tan, but give me a few more days and I’ll look at the records and talk to the assessment people of BIR and probably I can come out with a definite answer”, Dulay said.

The fine for 2016 taxes is the greater of $695 per adult or 2.5 percent of household income. This way, if you are due a refund, you won’t have to wait longer than necessary to get your hands on your money. “A tax professional can help them determine the best way to pay their tax bill in their unique situation”, said Pickering.For additional help estimating their tax liability, filing an extension or understanding their payment options, taxpayers may contact a local H&R Block tax professional. I appreciate the feedback I have received from Nebraskans since the release of the blueprint and share your eagerness to get this important work done.

“A lot of taxpayers, if you don’t do it, they tend to forget”, he said. Taxpayers who owe payment and need more time to file their state individual income tax return can file for a six-month extension by completing an Application for Extension of Time to File Michigan Tax Returns (Form 4) and mail it to Treasury by 11:59 p.m. Tuesday, April 18. “We want you to be able to file and file on time”, said Rauschenberger. This penalty is assessed when the required return is not filed by the due date or extended due date if an extension is requested.

If you have suffered a recent hardship, the IRS also may be receptive to your circumstances. If one half your annual Social Security benefits plus your other taxable income equals $25,000 or more, then those benefits will become partly taxable. According to the National Taxpayers Union Foundation, the “value of the time (6.1 billion hours) plus out-of-pocket costs expended annually on complying with the individual and corporate Tax Code amounts to an economic loss of $234.4 billion”.

So filing a 4868 form with payment, which can be done online, will keep you in the IRS’ good graces for the time being. If both penalties are due in the same month, the failure to file penalty is reduced to 0.5%.

It’s possible to get the automatic extension without filing IRS Form 4868. Let’s say our middle-class family spends $27,000 of its remaining $67,000 on housing and spends the remaining $40,000.