Congressman Udall wants to make filing taxes easier

Apr 13, 2017, 01:33
Congressman Udall wants to make filing taxes easier

"We need to make sure that child lives with you", he said.

When you file for an extension, make a good estimate of what you owe the IRS and send some or all of that amount along with your extension request in April.

To help speed this up this process as much as possible, Liberty Tax preparers say use the information you already have to jump-start your refund, delaying to file will only hurt you. A refund sounds great, but in reality it means you overpaid on your taxes over the course of the year.

The IRS provides tax information in Chinese, Korean, Russian, Spanish, and Vietnamese. One such expectation was the repeal of the Affordable Care Act and its associated additional taxes and penalties.

You can use freefile on the IRS website if you file a qualifying return. If you're one of them, here are three last-minute pieces of advice you should keep in mind as Tax Day approaches. Kelley instructed several of her clients, who owed income taxes to the Internal Revenue Service (IRS), to write payment checks directly to her rather than to the IRS. Once the IRS receives and accepts your extension, your tax return deadline will be pushed to October 16.

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More than four out of five of the 153 million people who file tax returns in 2017 will use tax return preparation software, the IRS said.

Taxpayers who need more time to complete their returns can request an automatic six-month extension by filing form 4868.

The usual April 15 deadline falls on Saturday this year, which ordinarily would give taxpayers until the following Monday to file. The income rules are a little complicated; you can read them in IRS Publication 524.

Try IRS e-file: IRS e-file is the best way to file an accurate tax return.

Remember, too, the IRS does not use email, text messages or social media to discuss personal tax issues involving bills or refunds. If the return is not filed by the required due date and the taxpayer can not provide a good rationale, the IRS charges a late-filing penalty of 5 percent of the balance due for each month the return is delinquent.

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Even if you can not pay the full amount due, you should file the actual return or request an extension by April 18.

Some New York taxpayers subscribe to a variety of tax-related misconceptions, including ones about how to receive refunds faster.

Under the tax law, legal holidays in the District of Columbia affect the filing deadline across the nation.

You also may have to file FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR) if you have a financial interest in or signature authority over a foreign financial account, including a bank account, brokerage account, mutual fund, trust, or other type of foreign financial account - exceeding certain thresholds. If an extension is filed and 90 percent of the tax liability is paid with the extension, this penalty won't apply during the extension period if the balance is paid with the return.

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