Already filed your tax return? Here are their 10 to-dos, and some information to help you file your taxes on time, and get the biggest refund possible.
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If you do file an extension, you’ll need to circle another date on your calendar. If you owe tax debt, the IRS can take serious enforced collection action, such as taking money from your bank accounts, wages, or other income.
If you’re just now starting to file your taxes, you’re not alone. You will get an acknowledgment that the IRS has received your request. This includes receipts, canceled checks and other records that support income, deductions or tax credits that you claim. If you are in ME or MA celebrating Patriot’s Day, then you have until April 19th.
Through the end of last week, the average refund was $2,866 for MS taxpayers.
By properly filing this form, a taxpayer will avoid the late-filing penalty, normally five percent per month based on the unpaid balance that applies to returns filed after the deadline.
Fisher said Liberty Tax usually sees a lot of customers coming in at the last minute to file their taxes, and this year hasn’t been any different. Many people are very familiar with what to do during tax-time…”Treat the financial and accounting and taxes as if you were running a small business”, he says. E-filed returns are 20 times less likely to have an error, enabling taxpayers to receive their refunds up to twice as fast compared with those who file on paper. Will it cost you more to make payments on a loan, or is it cheaper to set up an installment plan with the IRS? There’s even a “Where’s My Refund?” tool that can help you determine when you can expect your tax refund to show up in your bank account. With more than 25,000 Tax Professionals, Jackson Hewitt is devoted to helping clients get ahead with Maximum Refund and 100% Accuracy Guarantees.
“Procrastinating can be costly for do-it-yourself filers, who may be unaware that they qualify for valuable tax breaks”, said David Prokupek, CEO of Jackson Hewitt. The IRS requires you to at least make a rough estimate of your expected payment and send in a check by April 18, 2016. To make an appointment or to find the nearest location, call 1 (800) 234-1040 or visit www.JacksonHewitt.com.
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Because of that, Bay Staters might be better off filing alongside everyone else on April 18.
