It’s countdown time to the IRS deadline (April 15). If you miss this date you will incur penalty for late filing, interest on any amount owed, and penalty for late payment; these charges will be added to your balance due. If you file an extension, but don’t pay all of the balance due by the deadline, you will incur interest on the unpaid amount and penalty for late payment.
NOTE: if you file late, but have a refund coming, there will be no penalty.
Remember: take advantage of tax credits and deductions whenever you’re eligible.
Credits include: Home Energy Improvements; Hybrid/Electric Car; Retirement Saver’s Credit; Education Tax Credits; Earned Income Tax Credit; Child Tax Credit; and Adoption Tax Credit. And if you might benefit by itemizing deductions, gather complete information on medical expenditures, charitable contributions, unreimbursed business expenses, and more.
File electronically as it is accurate and fast.
Try Free File which is simple, and available to those with incomes below $57,000. Go to the IRS website, www. IRS.gov and click on the “Free File” icon. If your income exceeds $57,000 there is a Free File fill-able form.
Choose Direct Deposit for Refunds
You can split the refund up to 3 different accounts if you’d like to make deposits to different savings funds.
Check for Errors and sign using your electronic signature number (or if you mailing a paper copy, be sure to sign your form).