Experts encourage getting tax filing done before Tax Day
LA CROSSE, Wis. (WKBT) — There are two weeks until Tax Day, and experts are encouraging everyone to get their taxes done as soon as possible.
You’re not alone if you haven’t done your taxes yet; 80 million people have not filed yet.
Taxes need to be filed and paid by midnight on April 18.
If you’re expecting a refund, you can file for an extension, but you may not want to wait.
“The extension really just gives you a little bit more time, six months in fact, to file your paperwork. But it does not push off the deadline for paying your taxes, that is, in fact, still due, so no benefit there,” says Mark Steber, chief tax information officer for Jackson Hewitt. “If you’re due for a refund, like 3 out of 4 people are, filing an extension just means longer to get your money.”
If you don’t file on time, there is a penalty.
The IRS does offer payment plans for those who owe on their taxes.
Recent headlines on News 8 Now
COPYRIGHT 2022 BY NEWS 8 NOW/NEWS 8000. ALL RIGHTS RESERVED. THIS MATERIAL MAY NOT BE PUBLISHED, BROADCAST, REWRITTEN OR REDISTRIBUTED.