Tips for Tax Procrastinators

Know the BasicsBe sure you understand the basics of your Form 1040, including your correct filing status, all legitimate dependents, your income (from W-2s, 1099s and payments that didn’t generate tax forms) and also any capital gains and losses. 

File for an ExtensionYou can move your filing deadline up to six months by filing for an extension with Form 4868.

Use Tax Preparation SoftwareIt is not easy to find a tax professional who’s available less than a week before the filing deadline. That’s why tax prep software can be a good alternative for late filers. The IRS offers free brand name tax-filing software to taxpayers that qualify. 

Know Your Payment OptionsIf you find out you owe money to the IRS, coming up with the funds last-minute can be difficult. So, some last-minute filers turn to credit cards to pay off their tax bill. Just keep in mind using a credit card will almost certainly come with a processing charge. 

Don’t Delay Your PaymentIf you owe taxes, the last thing you want is to pay additional interest and penalty charges. You won’t be charged a penalty if you’re supposed to receive a refund. If a refund is waiting, you should file as soon as possible to get it.

Ask for a Payment AgreementIf you’re short on money, don’t despair, you can set up a payment plan with the IRS. Use the IRS Online Payment Agreement Tool to get started or mail Form 9465. If you feel unprepared to face the IRS on your own, you can also seek the help of a qualified tax professional.

Double-Check EverythingWhether you prepare your taxes yourself or have a professional prepare them for you, ALWAYS double check figures, Social Security Numbers and all other major and minor information on your tax return.

To Learn More Visit

www.reliancetaxgroup.com Or Call :

(877) 597-0153

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