Today is the deadline for filing the tax return for tax year 2010.Â Because the Emancipation Day, which is a holiday observed in the District of Â Columbia, was observed on Friday, April 15, 2011, the IRS extended the due date to today for taxpayers to file their 2010 returns and pay taxes. By law, D.C. holidays impact tax deadlines in the same way that federal holidays do. The April 18 deadline applies to any return or payment normally due on April 15. Today is also the the deadline for for other tax related issues such as the following:
- Requesting a tax-filing extension for 2010
- Making full payments on your tax liability for 2010 without incurring penalties and interest
- Making 2010 IRA contributions.
- Quarterly Tax Payments
- Filing an amended return for Tax Year 2007 to claim a refund – $1.1 Billion Tax Refunds Expiring Soon – Have You Claimed Yours?
Here are some of the articles to help you get through the home stretch of this year’s tax season!
1. 4 Most Common Mistakes Made On The Tax Return -Â Preparing taxes are not that simple even if you are using the tax software. Most tax professionals nowadays are required to use a tax preparation software and file the returns electronically.Â The problem with a tax software is it the outcome depends on how you answer the questions. So if you answer it differently or you miss a question, there goes the mistakes. But donâ€™t be alarmed as even tax professionals can make the same mistakes on your return. So the best way is to really know these mistakes and be prepared to double check the entries. Here are the 4 Most Common Mistakes Made on Your Tax Return.
2. How to Get An Extension To File Your Tax Return -Â Tax filing is really hectic and very stressful especially if you are filing the long form and you are still waiting for various documentations. Others may be out of the country during that time while others may have a very difficult tax return that requires thorough preparation.Â If you think you are not going to make the filing dateline for whatever reason, you may qualify for an extension.
3. 4 Payment Options You Can Use If You Owe Taxes -Â You should be able to determine if you owe any taxes as soon as your tax return is complete. In some cases, such as filing an extension, you need to be able to estimate how much taxes you owe.Â If you owe taxes and are able to pay the full amount, there are various ways that you can send the payments.
4. Made A Mistake On Your Return?File An Amended Tax Return – discusses what forms to use, the types of mistakes you can make on your amended return, the deadline for the tax return.
5. Where to Find Free Tax Help and Tax Preparation Service -Â Even with the free online tax filing, there are still a number of people who just donâ€™t want to do the taxes themselves. Thatâ€™s why the Internal Revenue Service (IRS) has created various programs to help the low-income families, senior citizens and even military personnel. These programs offer free tax help for taxpayers who qualify.
6. File Taxes Online For Free -Â The cost of tax preparation fee may be affordable to some but for people in the low income bracket, even $200 fees that most tax franchise chain charges is a lot. The IRS understands this which is why they have made partnership with various software companies to offer free tax filing online.
Do you have any great articles about what to do when your tax accountant files an extension for you (they’re behind in their work), when you never asked them to? Grumble, grumble…
I’m not really sure how you would handle that with your accountant.
For as long as you pay your tax liability before the deadline, you should be ok as the penalties and interest for not filing on time (if you do not file an extension) are only applied towards the tax liability owed. If you are getting a refund there should be no problem with the penalties. The only issue is that you will not be getting your money sooner.
Money Cone says
Missing the tax deadline is never wise financially and you could end up paying a lot in penalties. Thanks for the resource links.