What's The Deal: Last-minute tax filing tips from the IRS

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Thursday, April 11, 2019
What's the Deal: Last-minute tax filing tips
What's the Deal: Last-minute tax filing tips - Sarah Bloomquist reports during Action News at 4:30pm on April 10, 2019.

In case you haven't noticed, Tax Day is less than a week away. However, TurboTax says almost a quarter of filers have still not done their taxes.

If you waited until the last minute, don't worry, just follow a few tips.

The IRS says mistakes can happen when you hurry to file by the April 15th deadline and that can result in longer processing times and possible refund delays.

The IRS recommends filing electronically because tax software can easily flag potential errors. It can also do the math for you and alert you if there's missing info.

Perhaps the most important benefit for late-filer is the fact you'll get an acknowledgment from the IRS that you've filed your return, soon after you submit it.

The IRS even has a free "do-it-yourself" software program on its website.

Because of the changes in the federal tax law, people who haven't filed yet may want to hire a professional tax preparer - a careless mistake could cost you a lot of money.

You could get hit with penalties and charges if you use the wrong filing status or forget to report income, so pay very close attention.

Also, make sure you proof-read your tax return. Check the math, make sure your social security number is correct and verify your bank account details.

If you need more time, the IRS recommends you get a tax extension, which gives you another six months to file.

Remember - an extension to file, doesn't mean an extension to pay. You must make your best estimate of what you owe and pay by the deadline.

For more information, visit IRS.gov.