Tax deadline not until Tuesday this year

Almost 1 in 10 tax filers takes advantage of an even further delay that IRS automatically grants: The 6-month extension. The agency has information here about what you need to do to file for a tax extension. And that gives everybody an additional day to file their taxes, he said.

For more information, please see the IRS press release linked here.

When is the last day to file taxes in 2018?

Tax season is the time of the year that people either love or hate, but according to the IRS, electronic filing is up 2.2 percent this year versus 2017.

Consumers should pay particular attention to how they budget their larger paychecks to make sure the extra money that would have ended up in their tax refund check doesn't get spent mindlessly.

To find out how much you have to pay, you can use the payment estimator provided by the IRS on their website.

The most popular planned use of tax refunds, coming in at 43%, is adding the money to their savings. Monday, April 16th, is Emancipation Day, a legal holiday in Washington D.C. So, that makes Tuesday, April 17th, Tax Day 2018. You will need the appropriate bank-routing and account numbers. Individuals and businesses should ask their preparer how many times they've been the subject of an audit and over what period to avoid this issue from affecting them. Then, subtract this year's withholdings and estimated payments you made over the course of the year, and send the difference to the IRS this year.

"As long as you pay 100% of your 2016 tax liability - 110% for higher income taxpayers - you will not owe a penalty on your 2017 return", Jaeger said.

Considering how close we are to the tax filing deadline, it would be rather optimistic to believe that all cryptocurrency holders will just pop in at the eleventh hour to file their taxes at the same time.

As the founder of McLaughlin Legal, San Diego tax attorney Kevan P. McLaughlin focuses his practice on all aspects of Federal and California tax law, with a particular emphasis on representing taxpayers in civil and criminal tax litigation and controversy cases.

The IRS allows you to request an automatic six-month extension to file your return when you pay online.

(Copyright © 2015. All Rights Reserved.)
 
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