There's still time to file an extension on your tax return

Calvin Saunders
April 17, 2018

For anyone who is a last-minute filer or missed the April 17 deadline, here's what to do.

So, if you haven't finished your taxes, it's time to at least start. You will need your Social security number, filing status and exact refund amount.

ADOR encourages taxpayers to file electronically and to use direct deposit for refunds because it is faster and more secure.

Falsely padding deductions on returns: Taxpayers should avoid the temptation to falsely inflate deductions or expenses on their tax returns. Similarly, with this new electronic system, the IRS would be able to quickly compare Form 1099 with your individual tax returns, thereby reducing the chance of fraud. That said, Perez recommends people ask their tax accountant to file their extensions to request additional time and that way, the IRS will send a confirmation code to the accountant.

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Lawmakers will vote on the House floor on Tuesday as members of the House Oversight and Government Reform Committee hold an oversight hearing on the IRS. For more information, visit http://www.irs.gov/Individuals/Free-Tax-Return-Preparation-for-You-by-Volunteers.

Offers-dot-com's Carson Yarbrough tells the Louisiana Radio Network most people don't want to pay their taxes and some say they would go to extreme measures to avoid doing so. That means one will be charged five percent of an unpaid tax bill for every month it remains unpaid, up to 25 percent.

Generally, the failure to file penalty is far greater than the failure to timely pay penalty. Do not staple, clip or attach your payment to the tax form. Choose whichever payment method works best for you, and pay at the last minute with confidence. The majority of taxpayers pay their fair share, and everyone should be on the lookout for people peddling tax shelters that sound too good to be true.

Offshore tax avoidance: A recent emphasis of the IRS, the IRS is continuing to take action against taxpayers that hide money and income offshore. The IRS accepts checks or money orders payable to the United States Treasury.

Other reports by MaliBehiribAe

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