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Last Minute Tips For Tax Filers

Income tax returns are due by the end of Tuesday, April 17.  Here are a few helpful tips to ensure that your filing runs smoothly.

  • Double check all of your numbers, especially when submitting a paper return.  This includes all mathematical calculations as well as any identifying numbers such as your social security number, tax ID, or address and bank account and routing numbers.
  • Make sure you follow the proper submission procedure.  Sign and date the return (both spouses must sign if married filing jointly) and be sure to submit your filing to the proper address if you are mailing your return.  You can find the appropriate address to mail your return on the IRS website.  If you owe additional taxes, the payment check should be made to the “United States Treasury” and should include your tax return or a form 1040-V, the Payment Voucher. The check should include the Social Security number of the first person listed on the return, a daytime phone number, the tax year, and type of form filed.
  • File for an extension.  An extension gives you an additional six months to file your tax return.  In order to get an extension, you need to file Form 4868 with the IRS. You may electronically file Form 4868 through the IRS website.  Alternatively, if you use a paid preparer or tax accounting software, they should be able to electronically file Form 4868 on your behalf. Finally, a paper version of Form 4868 is available for download from the IRS website.  Taxpayers who request an extension will have until October 15, 2012 to file their return.
  • Remember that an extension of time to file is not an extension of time to pay.  All outstanding balances are due by April 17, 2012.  Failure to timely pay your tax balance can lead to interest and penalties accessed against you by the IRS.

If you still have questions, the IRS has posted a video that details common errors incurred by last minute filers on its YouTube page.  If you decide that you are currently unable to pay your tax balance, you may have additional options such as an installment agreement.  If you find yourself unable to pay your taxes and are in need of assistance, contact an Attorney in Jacksonville to see how we can assist you in settling your tax debt.