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10 things to know: Last-minute tax filing

Published: Tuesday, April 14, 2015 @ 11:52 AM
Updated: Tuesday, April 14, 2015 @ 11:52 AM
By: WSOC-TV

April 15 is the tax deadline to file your 2014 tax return with the IRS. IRS.gov offers the following advice for people who have waited until the last minute to file.

  1. Use IRS Free File: If you make $60,000 or less, you can use brand-name tax software to do your taxes and file for free. Information on this service is here: IRS.gov/freefile
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  3. Try IRS e-file. Instead of mailing your paper return, you can digitally file. Also, the IRS said there’s less a chance for errors because tax software will correct common paper filing errors.
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  5. Use IRS Direct Pay, which is the easiest way to pay your tax.
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  7. File on time. The IRS said if you owe taxes by April 15, but you cannot pay them, you should still file on time and pay as much as you can. This minimizes penalties and interest charges.
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  9. File for an installment agreement if you can’t pay the tax you owe. You can do this by using IRS Form 9465. More information is here. Also, if you cannot pay because of a financial hardship, the IRS will work with you.
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    MORE INFO: Click here to view our special page of tax information

     

  11. File an extension. If you’re not ready to file by April 15, you can get an automatic six-month extension. You can request the extension for free using IRS Free File or IRS Form 4868. You will then have until Oct. 15 to file your taxes.
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  13. An extension does not give you more time to pay. Even if you file an extension, you must estimate and pay what you owe by April 15 to avoid a late filing penalty. You will be charged interest on any tax that you do not pay on time.  You may also owe a penalty.
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  15. If you have questions, the IRS recommends you use online resources.  The IRS warned of possible long lines at some of the largest Taxpayers Assistance Centers across the country and long hold times on the phone.
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  17. Before filing your return, double check for these common errors. Make sure you are using the right address to send your forms, review all figures and sign and date your forms. Check more common errors here.
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  19. For the latest information, visit IRS.gov. It has tax information and resources to answer questions you may have while completing your return.