Published: Tue, April 18, 2017
Markets | By Erika Turner

Tuesday's tax deadline: what you need to know for April 18

Tuesday's tax deadline: what you need to know for April 18

Members of the military and eligible support personnel serving in a combat zone have at least 180 days after they leave the combat zone to file their tax returns and pay any taxes due.

"A lot of taxpayers, if you don't do it, they tend to forget", he said.

"File Form 4868 to extend the time for filing return".

It's possible to get the automatic extension without filing IRS Form 4868.

Some taxpayers won't qualify to file extensions of any kind.

For additional help estimating their tax liability, filing an extension or understanding their payment options, taxpayers may contact a local H&R Block tax professional.

Get and fill out IRS extension Form 4868: Application for Automatic Extension of Time to File U.S. Individual Income Tax Return.

Beginning in 2014, the federal health law required nearly all Americans to have health insurance or pay a tax penalty - a mandate for individuals that Republicans in Congress and President Donald Trump vowed to eliminate, but haven't yet done so.

The best thing you can do if you know you are going to miss the deadline?

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"It's a long day for the BIR today and we are urging all income earners to file their taxes correctly and promptly", said Jaen, citing he has directed the city and municipal revenue offices here to accommodate all tax filers today.

According to the IRS, the most common reasons people do not file a return who should are: they don't know how, may not have the documents needed or owe more tax than they can pay. Currently, taxpayers in parts of Georgia and MS have until May 31, 2017, to file and pay, while those in parts of Louisiana have until June 30, 2017, to file and pay.

Generally people who miss the deadline either ran out of time or didn't have the money, Kurlowicz said.

The process and requirements for filing for a state tax extension vary. Taxpayers due a refund must file a return within three years of its due date or the money becomes the property of the U.S. Treasury.

"Legislative provisions of the ACA law are still in force until changed by the Congress, and taxpayers remain required to follow the law and pay what they may owe", IRS said Monday in a statement. Taxpayers must submit tax owed by April 18 to avoid penalty and interest for late payment.

Gifford says many who wait until tax day want proof that they sent their returns on time and proof that it has been delivered.

"Just because you have your taxes prepared in the first week of March, that doesn't mean you have to pay them then", Veldt said.

The penalty for paying late is 0.5 percent for every month that the outstanding tax is not paid.

Koskinen says there's no penalty for filing a late return if you're due a refund.

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