Tax Day is April 18. Here are a few do's and don'ts for last-minute tax filers
The clock is ticking as we approach the April 18 deadline to file tax returns.
The deadline to file taxes, which is usually April 15, was due to the Emancipation Holiday in the District of Columbia. By law, District of Columbia holidays impact tax deadlines for everyone the same way federal holidays do.
With the deadline nearing, we’ve compiled a list of “do’s” and “don’ts” to help last-minute tax filers.
DO file electronically
According to the Internal Revenue Service (IRS), taxpayers who electronically prepare and file online will likely have fewer mistakes on their tax return. Electronic filing options like IRS Free File or commercial tax software are highly recommended. This is because commercial tax software does the math, flags common errors tax filers make and asks for missing information.
DO claim recovery rebate credit and child tax credit
Taxpayers who received a COVID-19 relief Economic Impact Payment or advance Child Tax Credit payment in 2021 must ensure they report the correct amount on their tax return in order to avoid processing delays. Taxpayers are advised by the IRS to review their online account on irs.gov or review Letter 6475, Your 2021 Economic Impact Payment, and Letter 6419, 2021 Total Advance Child Tax Credit Payments, for their total payment amounts. This information will help them file an accurate return.
DON’T forget to include an important document
Taxpayers who have worked multiple jobs throughout the past year may forget to report income from one of their jobs. To ensure this doesn’t happen, taxpayers should double check that they have all documents relating to their taxable income (like W-2 or 1099-MISC forms) on hand before filing their taxes.
DON’T neglect filing taxes
Some individuals may neglect filing their taxes if they don’t have the funds to pay their taxes. That is not okay. Under Internal Revenue Code Section 7201, any willful attempt to evade taxes can be punished by up to five years in prison and $250,000 in fines. If taxpayers don’t have the funds to pay their taxes right now, they can consider requesting a payment plan on irs.gov or requesting an extension by April 18. If a taxpayer is granted an extension, they won’t have to submit their return until Oct. 17.
Record reporter Hannah Workman covers news in Stockton and San Joaquin County. She can be reached at hworkman@recordnet.com or on Twitter @byhannahworkman . Support local news, subscribe to The Stockton Record at recordnet.com/subscribenow.
This article originally appeared on The Record: Tax Day is April 18. Here are a few do's and don'ts for last-minute tax filers
