3 Ways To Ease Your Last Minute Filing Woes

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The anticipation of tax rebate checks may be providing an extra incentive for taxpayers to file earlier this year. The IRS reports that individual tax filing is up over 7.4% from this time last year, and total e-filing receipts are up 9.2%. For those holdouts still getting ready for the last minute filing rush, Liberty Tax Service offers some tips for streamlining the process to meet the April 15th deadline.

E-File An Extension Request
The IRS will grant an automatic 6-month filing extension to taxpayers who file a timely extension request, and e-filing that request is the fastest and most efficient method available. Taxpayers do not need to provide a reason for their request, but must file Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return, by April 15th to receive a filing extension until October 15th. If returns aren’t completed by October 15th this year, the taxpayer will not be eligible for a tax rebate check.

‘An extension of time to file a tax return still does not constitute an extension of time to pay any tax liability. Penalties and interest accrue from April 15th if the tax liability has not been paid,’ said John Hewitt, CEO and Founder of Liberty Tax Service.

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