Published: Tue, April 17, 2018
Economy | By

Countdown to tax deadline: Are you ready?

Countdown to tax deadline: Are you ready?

There are also a number of other circumstances that might require you to file, including selling your home or owing taxes on money you withdrew from your retirement account.

"The normal filing deadline of April 15 fell on a weekend this year, and the next business day, Monday April 16, is a holiday in Washington, D.C.", Catherine Martin, senior tax research analyst for the tax institute at H&R Block, told LifeZette.

John Clisham, a tax preparer with H&R Block in Hyannis, said about one-third of all taxpayers file their returns in April.

Watson understands the many reasons people procrastinate filing their taxes.

Federal Tax Day is normally on April 15, which this year falls on a Sunday.

"Beyond a 10-percent grace, you're looking at penalties and interest if you have underestimated and underpaid that tax due", Walser said.

"You don't want to make an interest free loan to the government and you also don't want to under withhold to the point where they say you're really bad at withholding, give you a slap on the wrist and now you're forced at estimated payments the following year". And if you've run out of time, you can always request an extension.

"We were really busy last week [with] people thinking it was the 15th that we were going to be done", said Sierra Lawhorne, the Office Manager for Liberty Tax Services in Waynesboro.

From there it's beyond easy to figure out how to file taxes for free.

If you still haven't filed, you are not alone.

She adds that as long as you have all of your information for the year and a valid drivers license, you've got time.

But most importantly, filing early helps cut down on the risk for identity theft by essentially beating the criminals to the punch. And identity theft remains a common problem. Almost 80 percent of USA households were in the 15 percent bracket or lower, including those Americans with no taxable income and those who don't file tax returns.

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