Haven't filed your taxes yet? You have an extension -- until Tuesday

Once your return is filed with the IRS, the information - most notably your Social Security number - is locked and can not be used by anyone who might want to fraudulently claim a tax refund. "Electronic filing is fast, easy and results in a significantly lower error rate compared to filing through traditional paper forms". Here are some reasons why you might want to file an extension.

You can also use a tax software and plug in your info - just try not to underpay the IRS.

Curtis says it's important to get due taxes paid on time because it could come back to hurt you down the road, especially if you're in the market for a new home. That's why filing for an extension is an option in the first place.

If you owe money, you'll need to get that in by Tuesday as well or else you can expect to pay late payment penalties.

Returns post-marked by midnight Tuesday will be considered on time - but, as Kadas noted, the vast majority of Montana filers do so electronically, rather than through the mail.

It doesn't draw any attention to you. Taxpayers will be hit with harsher penalties for not filing than for not paying on time. The majority of taxpayers pay their fair share, and everyone should be on the lookout for people peddling tax shelters that sound too good to be true.

It doesn't quite have the same ring to it as April 15, but this year, the 17th is tax day.

Qualified taxpayers can choose to pay any taxes owed over time through an installment agreement.

If you try to file, and are missing a document, you can file for a six-month extension. Some signs of this include preparers who ask clients to sign a blank return or those who promise a big refund before looking at taxpayer records. "The IRS knows a lot about us, and does invoke penalties and interest".

Inflated refund claims: Taxpayers should be wary of anyone promising inflated tax refunds.

But he's not the only one who was taking advantage of the extra time. Please note that the IRS is discontinuing this Disclosure Program this year so if you have not taken advantage of it yet you are about to run out of time.

  • Marlene Weaver