Doing Taxes A.D. (After Deadline)
by Bob Williams
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That’s right, April 18 is come and gone. Hope we didn’t scare you too badly with that. But in most cases, there’s no need to be scared at all. While it’s a little early to retreat to the hammock on your back lawn just yet, you’ll be there soon enough. And we can help clear up those post-tax-deadline blues.
If you got an extension from the IRS, great! You get an express ticket to the hammock and a free iced tea. We’ll talk later.
If you did not get an extension, but still need to file, stick around and listen up.
First, you need to know that if you're getting a refund, the IRS won’t fine you if you file after the April 18 deadline. In all cases, though, it’s in your best interest to file as soon as you can, because the sooner you file, the sooner you get that refund.
If you owe tax, filing sooner will stop any interest or penalties that you may owe. Oh, and if you have tax due, the IRS says pay as much as you can when you e-file. Then, pay the rest as soon as possible. The sooner we file and pay, the smaller the amount the IRS may add on for paying after the deadline.
Is paying your tax due a problem? You can apply to the IRS to get an installment agreement so you can pay your tax bill over time. You can apply online, and get set up in no time.
So that’s it. Really. And 1040.com is open 24 hours so you can do your return whenever it’s convenient for you. Everybody got their iced tea? Great!
Ah, we gotta get a bigger hammock.
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