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IRS Offers Last-Minute Tax Tips

April 4, 2012

tax day 2012, tax tips  

While you have a little more time to file those taxes this year (Tax Day is April 17), that's not too much of a cushion. Having trouble getting those tax papers done? You may as well look to the experts at the IRS -- the very folks to whom you need to turn in those tax forms -- for some advice.

[1] Taxpayers have until April 17 to get Form 1040 into the IRS. The Internal Revenue Service suggests that taxpayers check out "Free File," a free software to help do your taxes and e-file (electronically file) them for free. Free File software is free to people whose income is $57,000 or less, but even higher earners can use the "Free File Fillable Form," an electronic version of the IRS paper form.

[2] Still don't think you'll meet that April 17 deadline? You are allowed to request an extension. Per the IRS: "You can use Free File to make your request at IRS.gov/freefile. Select 'Browse the list of Free File companies' and look for 'free extensions' in the company offers. But remember, this is an extension to file your return, not to pay. If you think you owe, send a payment with your extension request."

Other tax tips from the IRS include: "Don't wait until the last minute, you're prone to make mistakes; use IRS.gov for answers to your questions or to track your refund; use Free File, there's a free option for everyone; don't panic if you can't pay--you can arrange for a payment agreement at IRS.gov; if you can't make the April 17 deadline, use Free File to request an extension and make a payment if needed."

Source: HispanicBusiness.com (c) 2012. All rights reserved.

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