If you're one of the 13 million people who requested a six-month extension to file your tax return back in April, what the heck are you waiting for?
You return is due Monday October 17 (the deadline is actually October 15, but it falls on a Saturday this year). But that's your last chance. No more extensions. No more nuthin'.
Look, we get it: procrastination is human nature, especially when it comes to taxes.
And "if it weren't for the last minute, nothing would get done," as author Rita Mae Brown famously said.
But it's officially last minute. So let's get this thing done.
Here are five last-minute tips to ease the tax pain.
- Just File Already!
File your tax return, even if you don't have the money to pay the bill. The failure-to-file penalty is 5% per month of the unpaid tax liability, says Lisa Greene-Lewis, CPA and tax expert at TurboTax.
That could be a big charge, depending on what you owe. So at least get the darn return in. We'll worry about the payment in a bit.
- Disaster Relief.
If you were a recent victim of Hurricane Matthew, or even Hurricane Hermine earlier in the year, the IRS understands.
While there's been nothing formally stated yet, "we're expecting taxpayers in disaster areas probably will get some additional postponements," says Jackie Perlman, principal tax research analyst at H&R Block.