Thursday, April 5, 2012
The tax deadline is April 17 this year instead of April 15 because of a Washington D.C. holiday. Here are some tips if you haven’t filed your tax returns yet.
1. Free e-file – The IRS offers free federal e-file through different tax software providers if your adjusted gross income was less than $57,000.You can find more information at www.freefile.irs.gov/. Although e-filing the federal tax return is free, you may be charged for e-filing your state tax return. The IRS also offers free e-file fillable forms for all income levels at https://www.freefilefillableforms.com/.
2. File an extension – if you can’t file your federal tax return on time you can request an automatic 6 month extension using Form 4868. Your state should also have an automatic extension form. The extension does not extend the time to pay. If you expect to owe money, you should make a tax payment by April 17th to avoid penalties and interest. If you expect a tax refund and cannot file by April 17, you do not need to file an extension.
3. Filing Date – is the post mark date. So if you are paper filing or need to mail in a payment, you should drop it off at the post-office before their last mail collection time on April 17.