Can't make the April 17 tax-filing deadline and need more time to file your tax return?
If you're doing your taxes yourself and plan to file taxes online, you can fill out Form 4868 to file a tax extension directly through IRS.gov or via your choice of tax-prep software, like TaxAct's online tools or TurboTax Easy Extension. Check your state tax department's website: While some states will automatically apply your federal extension, others require you to submit a separate state extension form. Fundtrat's Tom Lee predicted earlier in the month that the cryptocurrency market took a dip earlier in the year due to investors needing money to pay the capital gains tax.
Representatives with Quality Tax Service also advise residents and small business owners to hold on to all receipts and invoices. The IRS will not threaten police arrest, which is often threatened in scam calls.
"It nearly takes detective work to get these deductions out of people", he said. That means almost 50 million taxpayers have either spent the last week scrambling to locate key documents and file their returns, or have scrambled to locate key documents and instead filed for an extension.
Davis is charged with conspiring to aid and abet the filing of more than 70 false tax returns, seven counts of aiding and abetting in the filing of false tax returns, and three counts of filing his own false tax returns. The result? Itemizing might not be so rewarding next time you file.
ADOR encourages taxpayers to file electronically and to use direct deposit for refunds because it is faster and more secure. About one in five waits until the last two weeks before the deadline to file taxes.
The most popular planned use of tax refunds, coming in at 43%, is adding the money to their savings. They say they will not initially contact you through email, text, social media or the phone. If you're married filing jointly and your adjusted gross income is less than $150,000, just make sure that this year's withholdings plus payments equal the same as last year.
Then there's "tax relief scams": Watch for deceptive advertisements claiming to reduce a person's tax liability greatly.
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