April 18th at midnight is the deadline to have your taxes filed. Preparers across the country are packed, including Kansas City-based H&R Block. Last minute filers like Bert are doing everything possible to maximize their refund.
“I tried to do it a little bit sooner but tried one of those online services. This year I couldn’t really do it, didn’t want to mess it up. I didn’t want to get audited,” said Bert.
DeAnn Gould-Lancaster with H&R Block says it’s important to note, filing an extension doesn’t extend the time you have to pay any balance due. If you don’t, the penalty can be 10 times greater than what you actually owe.
“If you can’t pay the balance, then you have options. Three of those options are file for a short-term extension, make an installment agreement or pay with a credit card,” said Gould-Lancaster.
Gould-Lancaster also says home ownership and charitable contributions could save you hundreds, even thousands on your tax bill.
“One of the most common credits and deductions taxpayers miss every year is itemized deductions, so one in three taxpayers itemizes, but millions more should, particularly homeowners,” said Gould-Lancaster.
If you’re unsure what’s available to you, there are several tools and online resources, including irs.gov. If your gross income is under 64K, you can use that site and file for free. You also have until midnight to check your tax returns dating back to 2013 and make sure you received every deduction you deserve. If you find a credit or deduction owed, you can file an amendment to get some additional money.
