ORLANDO, Fla. – Tax experts are sharing tips on how you can file your taxes ahead of Monday’s looming tax deadline.
“If you haven’t already filed your taxes, the clock is ticking and time is running out,” said Kathy Pickering, chief tax officer for H&R Block.
Pickering said the best thing you can do is to get started. She said there are a number of ways to file whether you prefer in-person or online.
“Some people are super confident with technology, with their finances, and you know they’ve got it and that’s perfect for them, but for other people that are a little more unsure or maybe they had a life change this year — maybe you had a baby or you got divorced — and now things are a little bit more complicated, that’s a perfect time to get some help,” Pickering said.
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However, if you feel like you need more time, there’s always the option to request an extension to file by October 15, but Pickering said there’s an important detail you might not know about requesting an extension.
“The thing that people don’t realize is that an extension to file your taxes is not an extension to pay,” Pickering said. “So, if you owe money, you still need to pay your taxes. You either need to estimate how much you owe or you can see how much you paid last year and pay that same amount to avoid underpayment penalties, and then what happens is you will accrue penalties and interest on however much is outstanding.”
If you are not requesting an extension, the deadline to file is Monday, April 15.
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