Tax day is here. Do you still need to file?
Tax Day has arrived and believe it or not, if you still haven’t filed your taxes, you many not be in the hole just yet. For the last couple months, we have been giving you important tips that you need to know in order to become tax savvy and tonight we are giving you an entire recap.
When we think about paying taxes, it often is a task that causes stress to most Americans. Whether you have a tax preparer or file electronically yourself, the process can at times be daunting. Brian Watson, a special agent with the IRS sat down with us to go over some key components of tax season. First one, scammers.
IRS impersonation scheme has been going on since 2013 and almost 64 million dollars has been lost nationwide and the numbers continue to grow, unfortunately. We have to keep going out there and beat the drum and tell people that we don’t call people up and demand money over the phone. The IRS needs to get a hold of you, we are going to do it by sending you a letter,” said Watson.
Next important fact to know is if you do decide to get your taxes done by a professional, make sure they are in fact certified to handle your tax dollars.
“You want to have someone that has a good reputation. Stay away from anybody that promises you a huge refund without even looking at your tax return information.”
Another red flag?
“Stay away from anybody that basis their return preparation fee on a percentage of your refund. That’s a huge red flag because that’s a built in incentive for them to pad your return with false deductions.”
If you haven’t filed yet, the Internal Revenue Service can charge two types of fees; Failure to file and failure to pay. That is why if you need an extension, you must file by April 18th, at midnight. If you need assistance, the best place to go is www.irs.gov, where there is a plethora of information for you to gather along with reputable resources you can trust.