Steps To Take If You Can't Meet The Tax Deadline

Ya know, I used to look forward to tax day. It was simple, and I always got a refund. It was awesome! I always wondered why people hated tax day. Now I know! Those days are over. I always wind up owing now. Last year I actually got a refund. Very small. but at least it wasn't a pay in year.

Today is the day when you need to have your taxes filed by midnight Most people will just do the electronic method. But some people still have to mail it in. Ot they just choose to. I actually had to mail one in this year. That was because of a mistake made on the original one, then sent in the corrected one. So there's that.

IT'S APRIL 15TH AND YOUR TAXES AREN'T READY - NOW WHAT

What do you do if you are not going to make it by the deadline? You file an extension. And you can get some answers on how to do that, and if there is a charge to do so.

From the IRS website:

Anyone can file an extension with an IRS Free File partner, regardless of whether they meet the eligibility requirements for a free federal tax return. An extension gives you until Oct. 15 to file your federal tax return. To avoid penalties, file the extension and pay any balance due by the April 15 deadline. The extension is only for filing your return.

So, that is one of those government things that make no sense to me. If you know what you need to pay in (if you have to pay in) you would probably have your taxes completed, right? So, in order to pay the amount you owe on time, you need to do that by today, the 15th. If not, then you need to figure out what your penalty will be. The free extension is only for filing your taxes. So in other words, if you owe, get it done on time. If you don't owe, then go ahead and file the extension for another end date of October 15th.

YOU HAVE TO WONDER WHY YOU WOULD WAIT IF YOU ARE GETTING A REFUND

Who would file an extension if they were actually getting a refund? I don't know about you, but if I have money coming my way, I file that stuff in early February.

If you have other questions, the IRS website can answer just about all of your questions.

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Source: It’s Tax Day! What to Do If You Need An Extension – Expensive?

Filed Under: Minnesota