Published: Tue, April 17, 2018
Markets | By Noel Gibbs

Tuesday is final day to file taxes on time

Tuesday is final day to file taxes on time

Forms must be submitted by midnight to avoid penalty. If the federal extension is granted, the taxpayer must file their federal tax return by October 15, 2018 and their IN tax return by November 14, 2018.

Tuesday is tax day - the final day to file your federal income tax returns.

As the April 17 deadline approaches, the IRS encourages taxpayers to file electronically. The form must be mailed with a postmark on or before April 17. Well, failure to report capital gains or losses on cryptocurrency would be the same as if you failed to pay taxes on your investments.

The Where's My Refund? feature has already been used more than 248 million times this year, a seven percent increase when compared to last year.

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Not facing the situation leaves the person with greater penalties (and usually, anxiety, sometime poor career/business/life decisions) just because they did not file a tax return on time.

Procrastinators can take some solace in knowing that as of Friday 40 million Americans hadn't filed their taxes, according to the IRS.

The IRS could even begin a collections action against you, which Martin said could lead to a lien being attached to your property, or a levy on your accounts. "The IRS knows a lot about us, and does invoke penalties and interest".

Preparing an income tax return probably is not most people's idea of a good time, but for many Canadians the task is made a little more enjoyable when they receive their tax refund from the government.

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Use the right rows for your income and filing status when determining your tax rate on the tax table.

A lot of people don't factor a refund into their financial plan and may end up spending it on a passion of their choice such as a vacation or some new golf clubs.

The timing of the law's passage shortly before the new year meant tax preparers were thrust straight into tax season before they could get a thorough grasp on the law's implications, Clisham said.

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