Four Last-Minute Tax Tips

Tax Day is Monday, so if you’ve been putting it off, this weekend is your last chance.

Here are four tips to get it done before the deadline . . .

1.  Get organized.  Hopefully by now you have all the documents you’ll need.  You can find a list of documents you might need on the IRS website.

2.  File the fastest way.  E-filing is the fastest way to get your tax return to the IRS.  And if you made less than $79,000 last year, you can file for free using IRS Free File.

3.  Request an extension.  If you’re not going to make the Monday deadline, apply for an extension.  Your request must be filed by April 15th and it doesn’t give you an extension of time for payment if you owe money.

4.  File even if you miss the deadline.  If you haven’t filed your taxes by the 15th, still complete your return as soon as possible.  The penalty for a late filing is a percentage of the taxes you didn’t pay on time.  There’s no penalty being late if you’re owed a refund, but you DO still need to file your taxes.

(Credit Human / Today)