Tuesday April 15 marks this year’s deadline to file federal income tax returns. IRS spokesperson Bill Brunson says even if you’re not sure you can make the payment, it’s much better to file or ask for an extension before the deadline passes than to do nothing at all.
“I still would have a late payment penalty, but the late payment penalty is one half of one percent, as opposed to a 4.5% penalty for a late file,” he says.
Brunson also says if you’re going to hire someone else to prepare your taxes, it’s important to do so as carefully as you pick a doctor or dentist.
“A good tax preparer can be of immense help, making sure you qualify for certain items and taking advantage of them on the return, all of the allowable credits, deductions, and expenses." he says. "Your bad preparer can hurt you in a sense that if they do something incorrect you are the ultimate responsible party.”
All current tax forms and several helpful resources can be found on the website IRS.gov.