TAX DEADLINE: Experts Warn Of Misconception
From January until April, H&R Block tax consultant, Deb Eyestone, says it’s all hands on deck.
“There’s kind of a rush, the adrenaline is flowing and everything so it’s kind of fun, everyone really looks forward to it.”
As the countdown to file tax returns quickly approaches, Eyestone isn’t surprised some haven’t filed their returns yet.
“Some people are like, I don`t want to give the government any money until I have too.”
Filing returns earlier means faster processing times. Procrastinating means the potential for more errors.
“People miss deductions they just don`t know about if they do their own tax returns.”
Tax experts say they encourage people to get their returns in on time otherwise; they may be forced to file an extension. There’s no penalty filing for an extension but Eyestone says there is a common misconception.
“The extension is an extension of time to file the tax return not an extension of time to pay. So if you owe money that April 15 deadline still applies.”
If you owe money, experts say it’s best to get something filed even if it’s just your tax return.
The federal tax deadline is April 15th. State taxes are due on April 30th.