This year April 15 falls on a weekend and when that occurs, the IRS extends the filing deadline to the following Monday, unless that happens to be a holiday.
The combination of April 15 falling on a Saturday and Monday's Emancipation Day holiday in the District of Columbia is putting off the tax deadline a few extra days.
The April 18, 2017 tax filing deadline is rapidly approaching and it is important that you submit something to the taxing authorities by that date.
"The IRS urges taxpayers to avoid waiting until April 18 to file their taxes", the IRS said in a statement.
With the Indians playing ball and the Cavaliers entering the playoffs this can only mean one other thing - that the tax filing deadline is upon us.
If you have a simple return, though, many free offers remain. But Ohio honors the six-month extension if you file the request with the Internal Revenue Service. Of course, you want to get your tax refund as soon as possible, but don't get bent out of shape or pay extra for rush filing (or run to the Post Office, if you're old school).
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When should I file a tax extension?
If you don't pay what you owe, you will be subject to late payment penalties and interest. It also alerts users to overlooked tax credits and deductions. The IRS has a long-winded explanation for why the deadline is extended, but if you like to drag your feet, you likely don't care. Filing their return or an extension allows a taxpayer to avoid a penalty for filing late, although there will still be a separate penalty for paying late. The IRS has already processed 101 million in individual returns and has issued $229 billion in refunds as of last week.
Tax procrastinators, you're in good company. In fact, finding a local one to comment for this article was hard mere days before the filing deadline. But if the error makes your refund smaller, the IRS takes the decrease from the amount you specified for the last account on your list and, if necessary, works its way up the list until the decrease is taken in full.
Taxpayers who owe taxes can use IRS Direct Pay or any of several other electronic payment options.
Those filing for an extension need to understand that they are getting more time to finish their paperwork, not more time to pay their taxes.
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