Monday is the deadline to file your 2012 tax returns on time and if you are still gathering paperwork and filling out forms, then check out these last-minute tax tips.
If you earn less than $50,000 and have a simple return, you can receive free help on your tax return. Just call IRS VITA at 1-800-906-9887 to find a location near you. This is just one of 15 last-minute tax tips from Kelly Phillips Erb.
If you’re struggling to get everything together to file on time, consider filing for an extension. Stephen Fishman, J.D. has a word of caution, though, “Make sure you understand this: filing an extension does not extend the time you have to pay your taxes. You still have to figure out how much you owe, if any, and pay it to the IRS by April 15. If you don't, you'll have to pay interest on the amount due and may also have to pay IRS late payment penalties.”
The IRS warns last-minute filers to avoid common errors in their rush to get everything completed on time. Taxpayers should make sure they fill in all of the requested information clearly, attach all of the required forms, make a copy for your personal files and sign and date the return.
5 tips from IBTimes TV
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