Filing Last Minute? Tax Day Tips

Tax Day is here and if you haven’t filed your taxes yet, you’re not alone. According to the IRS, “With the April deadline upon us, we’re seeing a flurry of tax returns coming in during the final hours. We’ve already received more than 100 million [returns] and tens of millions more returns are being filed in the final days,” IRS Commissioner Danny Werfel told reporters on Friday.

If you are a last-minute filer, use these tips to file your federal return or to get an extension to file without incurring financial penalties. Plus, make sure to check your state’s tax revenue department site to see what to be mindful of when doing the same for your state return.

Know Your Filing Deadline:

While April 15 is widely known as the deadline for the 2023 tax season, many people qualify for an automatic 2-month extension making their file date June 15, 2024. Some people who may qualify for this automatic extension include military member’s stationed overseas (these military members may also qualify for additional extensions if they are stationed in a combat zone), those who live or do business in a federally declared disaster area or were affected by the October 7 Hamas attack on Israel. Or if they live in Massachusetts and Maine, which observe Patriots Day on April 15, or Washington, DC, which marks Emancipation Day on April 16. Americans living abroad automatically get an additional two months to file, until June 15. However, they must pay whatever they still owe the IRS for tax year 2023 by April 15.

File for an Extension:

If you are unable to file before 11:59pm tonight, file for an automatic extension which will grant you a penalty-free 6-month extension. Without an extension, if you file late and still owe money to the IRS, you will be hit with a failure-to-file penalty plus interest on your outstanding balance. Visit the IRS website to learn how to file for an extension.

Go Paperless

According to the IRS, going paperless by filing electronically and choosing direct deposit helps to avoid refund delays and avoids mistakes in paperwork.

Check Your Work:

Make sure your forms have been completed fully and correctly to avoid any delays or conflicts with the IRS.

For more tips and tricks for last minute filing, visit the IRS website.