Countdown to tax deadline: Are you ready?

IRS data has led to a deeper understanding of inequality the American Dream and other topics

IRS data has led to a deeper understanding of inequality the American Dream and other topics

The agency expects to receive about 155 million individual tax returns this year, including extensions. "If you have a debt due it doesn't extend the date for payment".

Time is running out if you haven't already filed your taxes.

"Come in and see me or another tax preparer.do it online", urged Mary Walker, owner of Fast Tax Tax Service in Denison. You also have until the end of the day Tuesday to file for an extension. If you request and are granted an extension, you'll have until October 15th. There are multiple payment processors you can use, so you'll need to choose the right one for you.

The penalty for failing to file your tax return is much more greater than the penalty for failing to pay. You can pay directly from your bank account using Electronic Funds Withdrawal. In many cases, the volunteer centers can find themselves with packed waiting rooms and long wait times. And filing earlier in the season gives you time to more carefully prepare your returns and avoid errors.

But bear in mind - even if the IRS grants you more time, you still need to pay the taxes you owe by April 17.

"What we try to do when someone comes in here to get an extension is to do the best we can to rough out their tax return, and figure out whether they've had at least 90 percent of what they owe withheld".

Politicians often claim that tax simplification is a universally held goal of tax reform.

And looking ahead into next year's tax filing, be aware that changes at the federal level mean some local taxes and property tax deductions will now be capped at $10,000. "It's just you're hard-earned money that you have been lending to the CRA for nothing, so it's important that you spend the money wisely", Waters says.

Clisham said many taxpayers he has worked with have had questions about the new tax laws passed in 2017 and how they will affect what is owed next year. Firehouse Subs is offering a free medium sub with purchase of a medium or large sub, chips and a drink from today through Thursday.

Another person, "The financial system now is the problem - My government is a warmongering fascist state - F#&$ paying taxes in this shit hole!" Do you have an IRS tax bill? But do not forget to keep records for three to seven years because in the event of an audit, the IRS will shred you.

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