File A Fast Last Minute Tax Return or Get An Extension of Time

Filing Taxes or Filing Extension of Time

Filing taxes is often put off until the last minute. Sometimes this is because of confusion about what to do: File a last minute tax return or file for an extension of time? People wonder if rushing around will enable them to file a last minute tax return or file for an extension of time. What a lot of people don't realize is that it is really not that difficult to do taxes if there are not a lot of deductions or investments (stocks/daily trading), anything that makes you a unique tax and financial situation. If your earnings are straightforward and then you might be able to slip away pretty easy filing last minute taxes for free with an IRS Form 1040. There are a lot of places to do last minute taxes for free or to file for the extension in time. This article gives you enough resources to file your taxes or file for an extension of time.

Before you get ready to file your tax return last minute you need to gather your tax papers together. You need to be able to input the numbers and then the computer remembers the rest. If you get overwhelmed then ask a friend. If you are not comfortable doing your own last minute tax return and you don't want to file an extension then you should go to a rapid refund place. They take a percentage of your tax return or a flat rate; it just depends on where you go to file taxes last minute. Some of these places will let you walk-in to file last minute tax returns.

If you are low income or elderly then you can probably get your taxes done for free through a local library. The libraries usually host volunteers who do your tax return for you.

How to File a Fast Last Minute Tax Return

There are several places to go online to file your taxes for free. These work if your taxes are simple or if you are used to filing your taxes. If you are patient enough to follow the directions you should be able to file a last minute tax return for free at H&R Block. To find out other places go to the IRS site. Input your data and it will link you up with a free list to file your last minute free tax return.

Filing for an Extension of Time

If you cannot file a last minute tax return then the absolute better option is to file an extension of time. One of the most common tax mistakes that people make is not filing their taxes. Not filing a tax return can lead to many years of IRS trouble if you didn't file your tax return on a year that you owed money. Owing the IRS does not go away and their interest will accrue rapidly. It is better to file an extension of time or file last minute than to skip filing taxes altogether. Once you miss paying your taxes just one time then you are stuck. It is a trap. Other options are better and the IRS will work with people. Filing for the automatic extension of time can be done three ways: efiling with form 4868, paying at least 10% of the amount of taxes due, and you can paper file the extension. To file for an extension you must file form 4868 by April 15 at the midnight deadline. There is a fee for filing for an extension of time that is charged by the company taking your payment. Still, it is better to pay as much as you can of your taxes you think you owe.

Choosing to file for an extension of time is better than not filing taxes, and it will give you more time to turn in a complete tax return. Remember though, if you file for an extension there is money due at the time of filing the extension. The IRS also charges a small amount of interest, so it is best to complete your tax return as soon as possible. By filing an extension of time you give yourself an October deadline.

Tax Filing Tip:

Do not forget that you filed an extension of time for your tax return. Set a reminder somewhere, so that you are not hustling around trying to file a last minute return in October. Get help on your taxes. Remember that if you owe taxes to the IRS, then by not filing you are only accruing interest and making your debt larger. This will eventually take its toll on your credit.

Flag this Article

Flag Type: Spam/Inappropriate/Duplicate Grammar/Spelling/Formatting Flag Severity: 1 2 3 4 5

Reason for flag - be as descriptive as possible

Comments

Add a new comment - No HTML
You must be logged in and verified to post a comment. Please log in or sign up to comment.