With the April 18 deadline fast approaching, the Internal Revenue Service
today offered taxpayers still working on their 2016 taxes a number of tips.
These tips are designed to help taxpayers avoid common errors that could delay
their refunds or cause other tax problems in the future.
The IRS encourages taxpayers to file electronically. Doing so, whether
through e-file
or IRS
Free File, vastly reduces tax return errors, as the tax software does the
calculations, flags common errors and prompts taxpayers for missing
information. And best of all, there is a free option for everyone. Whether
filing electronically or on paper, be sure to keep a copy of your tax return.
In addition, the IRS offers these last-minute tips:
Refunds
The best and fastest way for taxpayers to get their refund is to have it
electronically deposited into their bank or other financial account. Taxpayers
can use direct deposit to deposit their refund into one, two or even three
accounts. See Form
8888, Allocation of Refund, for details.
Make sure the financial institution routing and account numbers entered on
the return are accurate. Incorrect numbers can cause a refund to be delayed or
deposited into the wrong account. After filing, whether or not direct deposit
was chosen, use “Where’s My Refund?” on IRS.gov or download the IRS2Go
Mobile App to track the status of a refund.
The IRS issues nine out of 10 refunds in less than 21 days. “Where’s My
Refund?” provides the most up-to-date information. The tool is updated once per
day, usually overnight, so checking more often will not generate new
information. Calling the IRS will not yield different results from those
available online, nor will ordering a tax transcript.
Special Instructions for Paper Filers
Math errors and other mistakes are common on paper returns, especially those
prepared or filed in haste at the last minute. These tips may help those
choosing this option:
- Fill in all requested
Taxpayer Identification Numbers, usually Social Security numbers,
including all dependents claimed. Check only one filing status and the
appropriate exemption boxes.
- When using the tax
tables, be sure to use the correct row and column for the filing
status claimed and taxable income amount shown.
- Sign and date the
return. If filing a joint return, both spouses must sign.
- Attach all required
forms and schedules, such as Schedule
A for people who itemize their deductions. In addition, attach to the
front of the return all Forms W-2 and other forms reflecting withholding.
- Mail the return to the
right address. Check Where
to File on IRS.gov or the last page of the tax instructions. If
mailing on Tuesday, April 18, be sure to do so early enough to meet the
scheduled pick-up time and ensure a postmark before the midnight
deadline.
Need More Time to File?
Avoid a late-filing penalty by requesting a tax-filing extension. There are
several ways to do so, including through the Free
File link on IRS.gov or by designating a payment as an extension payment
and making it via one of the IRS electronic payment methods, including IRS Direct
Pay. Alternatively, taxpayers can file Form
4868, Application for Extension of Time To File U.S. Income Tax Return.
While an extension grants additional time to file, it does not extend the time
to pay any tax due. April 18 is the deadline for most to pay taxes owed and
avoid penalty and interest charges.
Owe Tax?
Taxpayers who owe taxes can use IRS Direct Pay or any of several other electronic
payment options. They are secure and easy and taxpayers receive immediate
confirmation of their payment. Or, mail a check or money order payable to the
“United States Treasury” along with a Form
1040-V payment voucher. Taxpayers who can’t pay by April 18 often qualify
to set up a monthly payment agreement with the IRS using the Online
Payment Agreement option on IRS.gov.
For further help and resources, check out the IRS
Services Guide.
No comments:
Post a Comment